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Woodside Chairman to step down

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LNG Industry,

Woodside has announced that its Chairman, Michael Chaney AO, will step down from his position at the close of next year’s annual general meeting in April 2018.

Chaney will be replaced by Richard Goyder AO, who will join Woodside’s Board as an independent, non-executive director and Chairman-elect effective 1 August 2017.

Chaney originally joined the Board in 2005, and became Chairman in 2007. He said: “It has been a great pleasure to serve as Woodside’s Chairman and to lead an exceptional Board. Richard will bring a skill set that complements existing expertise and will take over as Chairman at an exciting time for the company as we grow our portfolio in Australia and globally.

“Richard has demonstrated his focus on delivering value for shareholders and commitment to excellence throughout his extensive business career.

“I am certain he will provide outstanding leadership through Woodside’s next phase of growth.

“To ensure a smooth transition, Richard will join the Board in August 2017 as Chairman-elect and he will become Chairman after our 2018 AGM.”

The CEO of Woodside, Peter Coleman, added: “The transition phase ensures the best outcome for the company and our shareholders and is a unique opportunity to work with both Michael and Richard – two of Australia’s great business leaders.”

Goyder commented: “I am delighted to be joining the Board of such a significant and successful Australian company and I look forward to working with Peter Coleman, his management team and the Board to continue to drive value for shareholders.”

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