Vodafone Hutchison Australia (VHA) Chief Executive Officer Iñaki Berroeta has today welcomed the announcement of the Board to lead the merged company once the merger with TPG Telecom (TPG) has been completed.
Mr Berroeta, who will serve as managing director and CEO, said the Board of directors will draw on the extensive skills and experience within both VHA and TPG, and that of two independent directors.
“This is a strong, highly-experienced Board, with each director bringing a diverse set of skills and perspectives to the table,” Mr Berroeta said.
“The Board will comprise a group of directors with extensive telecommunications, business and corporate experience, both in Australia and globally.
“The VHA/TPG merger is the biggest transaction to be completed remotely in Australia amidst the COVID-19 pandemic.
“The strength of the Board ensures we have the skills and expertise to navigate this situation and will put us in the strongest possible position.”
The Board of the merged company is outlined in the Scheme Booklet registered today.
The Board comprises 10 directors, including David Teoh as Chairman and Iñaki Berroeta as Managing Director and Chief Executive Officer. The other Board members are existing directors of VHA and TPG and include Canning Fok, Frank Sixt, Diego Massidda, Pierre Klotz, Robert Millner and Shane Teoh. Two independent directors, Dr Helen Nugent AO and Arlene Tansey will also be appointed.
Mr Berroeta said the extensive experience of independent directors Dr Helen Nugent AO and Arlene Tansey would bring additional skills and expertise to the Board.
“Dr Nugent has over 40 years’ experience in the financial services sector and has been a company director for over 20 years, and will add depth of knowledge as we create a strong future for the merged company,” he said.
“Ms Tansey is an experienced company director with more than 30 years’ commercial experience in Australia and the US spanning diverse industries such as banking, infrastructure, property, health, technology and professional services.
“I look forward to the contributions of the independent directors whose skills and expertise will complement the Board’s deep experience in telecommunications and other industries.”
A Scheme Meeting will be held on 24 June 2020 for TPG shareholders to vote on the Scheme and allow the Scheme to proceed to the court for final approval.
Subject to TPG shareholder approval and final Court approval, the target Scheme effective date is 29 June 2020 and with a target merger implementation of 13 July 2020.
A copy of the Scheme Booklet available on the Australian Securities Exchange announcements platform here.