Questions around this news
What experience does Richard Gibb bring to his new board role?
The release says Gibb has more than 35 years of experience in international finance and investment banking. He serves on the board of ANZ Group Holdings and chairs its Risk Committee. His past roles include CEO of Credit Suisse Australia, senior corporate finance and banking positions at Deutsche Bank, and positions at Merrill Lynch and Bankers Trust.
When will Richard Gibb begin his appointment, and is the board considering another director?
Gibb is due to start as a non-executive director on 2 June 2025. The release also says the board is considering recruiting another non-executive director following Sarah Adam-Gedge’s departure. The potential candidate would have manufacturing, delivery and contracting experience, according to the announcement.
What does it mean for directors to be nominees of a substantial shareholder?
A nominee is a person put forward or selected to serve in a role on behalf of another party. In a corporate board context, a shareholder may nominate candidates for director positions. The nominee serves as a director, while the nomination identifies the shareholder’s role in putting that candidate forward.
What does a non-executive director do?
A non-executive director is a board member who is not part of the company’s day-to-day executive management. The role generally involves contributing independent oversight, reviewing strategy and performance, and helping monitor governance and risk. Specific responsibilities depend on the company’s governance arrangements and the director’s committee assignments.
May 23, 2025 -- Austal Limited (Austal) (ASX: ASB) has appointed experienced finance executive, Richard Gibb, as a non-executive director.
Mr Gibb has spent over 35-years in international finance and investment banking, and currently sits on the Board of ANZ Group Holdings where he Chairs the Risk Committee.
Most recently Mr Gibb served as the CEO of Credit Suisse Australia for five years to 2024. Prior to that worked in a variety of positions at Deutsche Bank including Co-Head of Corporate Finance, Asia Pacific in Hong Kong; Co-Head of Global Financial Institutions in New York; and Chief Operating Officer, Global Banking in London. He has also held positions at Merrill Lynch and Bankers Trust in the United States and Asia Pacific.
“Richard possesses important international finance, M&A and capital management skills. When combined with existing board defence and manufacturing operations skillsets, he will provide important expertise to Austal as we expand our operations in the USA and our role in Australia,” Austal Chairman Richard Spencer said.
“Following the departure of Sarah Adam-Gedge the Board is also considering recruiting a further Non-executive Director with strong manufacturing, delivery and contracting experience – this would bring the Board to a size a skillset commensurate with Austal’s growth, complexity and strategies.”
Mr Gibb will commence his role on 2 June 2025.
Both Mr Gibb and Board member Brent Cubis are nominees of substantial shareholder, Tattarang Ventures Pty Ltd.
This ASX announcement has been approved and authorised for release by Richard Spencer, Austal Limited’s Chairman.
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Further Information
Contact: Austal
Phone: 61 8 9410 1111
Fax: 61 8 9410 2564
Email: [email protected]
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At a glance
- Company
- Austal Limited
- Ticker
- ASX: ASB
- Announcement
- Executive
Key figures
- International finance and investment banking experience
- over 35-years
- Time as CEO of Credit Suisse Australia
- five years
- Director role commencement
- 2 June 2025
People
- Richard GibbNon-executive director
- Richard SpencerAustal Chairman
- Sarah Adam-GedgeDeparting board member
- Brent CubisBoard member
Earlier from Austal Limited
- AUSTAL ENGAGES FORMER AUSTRALIAN AMBASSADOR PAUL MYLER TO STRENGTHEN GEOPOLITICAL STRATEGY AND ANALYSIS
- AUSTAL DELIVERS STRONG GROWTH IN FIRST HALF EARNINGS
- Austal Australasia awarded approx A$270 million contract to design and construct 130 metre 'hydrogen ready' high speed ferry
- Austal Australia awarded contract for two additional Evolved Cape-class Patrol Boats for Australian Border Force
- Australian Government announces Landing Craft Heavy Design to be constructed at Henderson Defence Precinct
