Bridgestone Australia Ltd. - Retirement of Mr Barry Noble as Director
The Board of Directors of Bridgestone Australia Ltd. has announced the retirement of Mr Barry Noble, B.Ec, FAICD, as a Director of the Company to be effective on 1st August 2008.
Mr Noble joined the Board of Bridgestone Australia Ltd. as a Non-Executive Director in July 2003. The Directors of the Company acknowledge Mr Noble's significant contribution as an Independent Director during his five years on the Board.
In March 2007, Directors advised that a proposal to privatise Bridgestone Australia Ltd. through a selective capital reduction had been approved by shareholders. As a result, the Company became a wholly owned subsidiary of Bridgestone Corporation of Japan.
Now that these arrangements have settled down, the decision has been made that it is no longer necessary to have a Non-Executive Director on the Board of the Australian company.
The Chairman and CEO of Bridgestone Australia Ltd., Mr. Mac Ohashi said: "Mr. Noble played a vital role as an independent Director during the selective capital reduction process and at all times acted in a professional manner, and in the best interests of shareholders."
Mr Noble said that he had appreciated the opportunity to serve on the Board of an important and successful public listed company in Australia, and that it had been a worthwhile and valuable experience.
The Board of Bridgestone Australia Ltd. wish Mr Noble well in his future pursuits as a professional Director.