Appointment of new Australian Rail Track Corporation Chair

Media Release

WT214/2015

16 July 2015

Joint release with:

Mathias Cormann

Minister for Finance

The Government today announces the appointment of Dr Helen Nugent AO as the new Chair of the Australian Rail Track Corporation (ARTC). Dr Nugent is appointed for a period of three years.

Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss and Finance Minister Mathias Cormann said ARTC is a wholly government owned company that manages the nation's interstate rail network.

Dr Nugent's significant executive management and board experience makes her well suited to serve as Chair. She brings extensive expertise in finance, governance, infrastructure investment, and risk management to the Board.

Dr Nugent's previous appointments include as Partner at global management consultancy, McKinsey & Company and as Director of Strategy at Westpac. Over the past 20 years, she has served on multiple boards, both private and not-for-profit, including at Swiss Re Australia, the State Bank of New South Wales and Opera Australia, as well as at infrastructure investment entities including United Energy, Macquarie Airports and Macquarie Group.

Dr Nugent was a Menzies Scholar to Harvard University, where she gained her MBA. In 2004, she was made an Officer in the Order of Australia (AO) for services to business, the arts and the community.

Dr Nugent replaces Mr John Caldon who has held the position of Chair of the ARTC for five years from 2010. Mr Truss and Minister Cormann thanked Mr Caldon for his service to ARTC over this period.

Mr Caldon has overseen significant investments aimed at improving the competitiveness of the interstate rail network during his term. Mr Caldon has made an invaluable contribution to ARTC and leaves the company well-placed to meet future challenges in the freight rail and broader transportation market. During his leadership, ARTC more than doubled in size since 2010.