Mariner board turnover continues as chair and chief executive resign
The chair of Mariner Corporation has resigned only days after the group announced the resignation of its chief executive officer and following the recent naming of three new directors associated with a business into which Mariner has invested.
According to an announcement released to the Australian Securities Exchange (ASX) Mariner chair Don Christie has resigned from his role which he held since 2010, effective from 25 August with no information provided about his replacement.
Mariner chief executive officer Darren Olney-Fraser also tendered an immediate resignation according to an ASX announcement released on 14 August with no information supplied to the ASX since that date about a replacement for Olney-Fraser, who had been in the role since 2010.
In July, Mariner announced the appointment to the board of William Murfitt, Matthew MacDougall and Philip Barclay as non-executive directors.
Murfitt, MacDougall and Barclay are executives of Global Renting and Leasing (GRL), which has joined with Mariner in a joint venture investment which owns plant and equipment managed by GRL. They join Garry Lemair on the board, who was appointed to his non-executive director role in February of this year.
The resignations of Christie and Olney-Fraser means that all the directors named by the Australian Securities and Investment Commission (ASIC) in a statement of claim in April have left the group. At the time ASIC served Mariner with the statement of claim regarding the latter's intention to make an offer in June 2012 for shares in Austock Group.
In an ASX statement Mariner stated that Christie, Olney-Fraser and former Mariner director Matthew Fletcher had been named as defendants and had been working with ASIC regarding the statement of claim.
AUTHOR
Jason Spits
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