Fairfax reshuffles pack
TOP-LEVEL board and management moves have continued at Fairfax Media in the wake of its merger with Rural Press, with Perpetual chairman and former IBM Australia chief executive Robert Savage joining the company's board.
TOP-LEVEL board and management moves have continued at Fairfax Media in the wake of its merger with Rural Press, with Perpetual chairman and former IBM Australia chief executive Robert Savage joining the company's board.
Mr Savage's appointment follows the appointment of a number of former Rural Press executives to the group's top executive team late last week.
However, sources last night suggested the appointment of Mr Savage - who is also the chairman of David Jones and Mincom - to the board, was unrelated to the ownership changes.
"They've been talking for at least six months," one source said.
Fairfax chairman Ron Walker said Mr Savage was appointed for his experience in consumer and retail businesses, IT and the internet, and the resources and financial services sector.
It is understood Mr Savage's appointment as an independent director will not displace any existing Fairfax board members, taking the total board numbers at the group to 10.
Mr Savage's role at Perpetual was examined in the lead-up to his appointment. It is understood that the newspaper group made legal checks that there were no "conflict of interest" issues in the appointment of the Perpetual chairman to a board role at Fairfax.
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