29 March, 2023
Resignation of Wendy Thorpe from Tower Board
Tower Limited (NZX/ASX: TWR) today announced the resignation of Wendy Thorpe as a non-executive director of the Tower Board.
Ms Thorpe, who resides in Melbourne, has been a director since March 2018. Her resignation letter advised that she was reducing her international travel obligations due to a change in family circumstances, while noting she had been appointed to the Board of IAG from 1 July 2023. As a result, her resignation is effective immediately enabling a three-month stand down period.
A recruitment process is underway for Ms Thorpe’s replacement. Until a permanent independent director is appointed, Tower CEO, Blair Turnbull will stand in as an executive director as an interim measure.
Mr Stiassny thanked Ms Thorpe for her considerable contribution to Tower over the past five years.
ENDS
This announcement has been authorised by Michael Stiassny, Chair, Tower Limited.
To organise media interviews with Mr Stiassny, please contact:
Emily Davies
Head of Corporate Affairs and Reputation
+64 21 815 149
[email protected]
The S&P/NZX 50 Index closed at 12,266.25, gaining 57.2 points or 0.47%.
Goldman Sach analysts have a 12-month target price of A$2.85 ($3.14).
An investment firm bought the stake, which included 116,145 hectares of forestry.
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