Peter Costello

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Appointment of Mr Robert Geoffrey Gerard AO to the Board of the Reserve Bank of Australia

NO.013

APPOINTMENT OF MR ROBERT GEOFFREY GERARD AO TO THE BOARD OF THE RESERVE BANK OF AUSTRALIA

I am pleased to announce the appointment of Mr Robert Geoffrey Gerard AO to the Board of the Reserve Bank of Australia for a term of five years.

Mr Gerard is the Chairman and Managing Director of Adelaide based Gerard Industries, which employs more than 3300 people in Australia and manufactures and sells Clipsal branded products throughout the world.

Mr Gerard is one of two Australian representatives on the newly established AFTA-CER Business Council. Its role is to help reduce impediments to trade and lower business costs in a broad range of areas between the ASEAN Free Trade Area (AFTA) and the Australia-New Zealand Closer Economic Relations Trade Agreement (CER).

Mr Gerard was also appointed as an Officer in the General Division of the Order of Australia in 1999 for services to the South Australian domestic and export industries, to youth and the community, and as a sponsor of cultural and sporting activities. He is also chairman of the Australian Made Campaign and member of the Prime Minister's Community Business Partnership.

I believe that Mr Gerard will make a valuable contribution to the RBA Board over the next five years. His extensive experience and leadership exhibited in the manufacturing industry in Australia will be significant to discussions at 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 Gerard on his appointment.

CANBERRA
25 March 2003

25 Mar 2003

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