John McGrath reveals new board for real estate business

Company News

by Anna Napoli

Real estate company McGrath (ASX:MEA) has announced the appointment of two new non executive and independent directors Mr Andrew Robinson and Mr Peter Lewis.

Lewis is a former chief financial officer to Kerry Stokes while Robinson is a corporate law specialist and has represented Paul Hogan in his high profile tax case.

The new appointments come following weeks of media speculation that founder of the company John McGrath ran up a $16 million dollar gambling debt and used the company’s shares as security. This is something that McGrath and the company deny.

The company says that the new board is working on a new corporate plan for the group.

Shares in McGrath (ASX:MEA) closed up 4.88 per cent to $0.43 yesterday. 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.