Peter Costello

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Re-appointment of Mr Hugh Morgan to the Board of the Reserve Bank of Australia

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RE-APPOINTMENT OF MR HUGH MORGAN TO THE BOARD OF THE RESERVE BANK OF AUSTRALIA

I am pleased to announce the re-appointment of Mr Hugh Morgan to the Board of the Reserve Bank of Australia for a term of five years, beginning on 29 July 2002.

Mr Morgan is Managing Director and Chief Executive Officer of WMC Limited and a Director of Alcoa of Australia and the Business Council of Australia. He is also a member of a number of industry bodies and organisations, both domestic and international. In 1987, Mr Morgan received the Officer in the Order of Australia (AO) for his services to the minerals industry and the arts. In this year's Queen's Birthday Honours, Mr Morgan was awarded the Companion in the Order of Australia (AC) for service to business, trade and sustainable development and cultural and educational research activities.

Mr Morgan has made a valuable contribution to the RBA Board over the past five years. His extensive experience, leadership and sound judgement in the pursuit of the national interest have been critical to the deliberations of the Reserve Bank Board.

The Board appointment is made in accordance with section 14 of the Reserve Bank Act 1959 which provides for nine Board members including the Governor, the Deputy Governor, the Secretary to the Department of the Treasury, and six other members.

I take this opportunity to congratulate Mr Morgan on his re-appointment.

Melbourne
24 July 2002

Media Contact: Dave Alexander (03) 9650 0244

 

24 Jul 2002

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