Helen Nugent Appointed to the CHH Board

Leading Australian Director Appointed to the
Carter Holt Harvey Board

Carter Holt Harvey Chairman John Maasland today announced the appointment of Dr Helen Nugent to the company’s Board of Directors. Dr Nugent’s appointment fills the seat left vacant by the retirement of director and former Chairman Sir Wilson Whineray.

A full-time company director with an extensive background in strategy, change management and finance, Dr Nugent is currently a Director of Macquarie Bank, Australia Post and Origin Energy, as well as being Chairman of Swiss Re (Australia).

“We believe Helen’s considerable experience in the Australian corporate sector will enable her to make a significant contribution to Carter Holt Harvey,” says Mr Maasland.

Carter Holt Harvey is a leading Australasian wood-fibre manufacturing and marketing company, supplying the New Zealand and Australian markets and exporting throughout Asia and around the Pacific Rim. The Australian businesses now account for a significant part of Carter Holt Harvey’s operations including home to two of the company’s six-strong leadership team and eight out of 26 businesses. Nearly 40% of Carter Holt Harvey’s 11,000 employees are based in Australia and the country now accounts for 45% of total sales.

“The appointment of a leading Australian director is a natural progression for Carter Holt Harvey and reflects the importance of our Australian operations to our overall business,” says Mr Maasland.

“We believe this appointment will sharpen our Australian focus, enabling us to grow our presence in what is now a very significant market.”

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See over for key biographical details for Dr Helen Nugent.

Dr Helen Nugent – Key Biographical Details

Dr Helen Nugent is a full-time company director, with an extensive background in strategy, change management and finance. She is a Director of Macquarie Bank, Australia Post and Origin Energy, as well as being Chairman of Swiss Re (Australia).

Prior to becoming a company director in 1999, Helen was Director of Strategy at Westpac Banking Corporation. She was part of the executive team who, under the leadership of Bob Joss, achieved a $2.9 billion turnaround in the Bank’s performance. She has also been a partner at McKinsey & Company, working in industries as diverse as finance, paper, alumina, glass, energy and mining.

Helen has been actively involved in the arts in Australia. In 1999, she chaired a landmark Federal Government Inquiry into the Major Performing Arts (commonly known as the Nugent Inquiry). Until October of last year, as Chairman of the Major Performing Arts Board, she was responsible for implementing the 89 Inquiry recommendations accepted by the Federal and State Governments. She has also been Deputy Chairman of the Australia Council, Deputy Chairman of Opera Australia and a Director of the Playbox Theatre.

Helen holds a Bachelor of Arts and a Doctorate of Philosophy from the University of Queensland and a Master of Business Administration from the Harvard Business School, where she was the Menzies Scholar.

Helen is based in Sydney but has lived in Brisbane (where she grew up), Melbourne and Boston.

(An electronic image of Dr Nugent is available upon request)

Carter Holt Harvey (www.chh.com) is a leading Australasian wood-fibre manufacturing and marketing company, supplying the New Zealand and Australian markets and exporting throughout Asia and around the Pacific Rim. Leading Carter Holt Harvey brands include Sorbent, Deeko, Treasures, Libra, Customwood, Pinex and Bestwood. Carter Holt Harvey is listed on both the NZSE and ASX, and employs approximately 11,000 people across New Zealand and Australia. The company's head office is in Auckland, New Zealand.

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