Aurizon Holdings Limited (ASX:AZJ) will accelerate plans for the renewal of its board and has established a nomination and succession committee.
The rail freight operator says an external firm has been appointed to assist with the process that aims to build new capabilities for the board.
Chairman John Prescott AC says the initial focus of the new committee will be assessment of the board’s future requirements in terms of skill and experience.
Mr Prescott says establishing a suitable timetable will also be important which will include planning an orderly transition to a new chairman.
He expects a new Chairmen to be in place by the company’s 2015 Annual general Meeting.
Aurizon reported a net profit of $253 million in the 2014 financial year.
