Australia’s biggest cement group, Adbri, has elevated chief executive Nick Miller into the boardroom in a move that temporarily shifts the dynamics to a point where independent directors are outnumbered.
But chairman Raymond Barro says a new independent director is being recruited to restore “majority independent composition” around the boardroom table at a company where corporate governance is complicated because Adbri is 43 per cent owned by Barro Group.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com