Peet : 19th May 2014 - Bob McKinnon appointed to Peet Board of Directors

Perth

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19 May 2014

Bob McKinnon appointed to Peet Board of Directors

Peet Limited today announced that Mr Bob McKinnon will join its Board as a non-executive director, effective immediately.
"We are delighted that Bob has accepted our invitation to join the Board. He brings extensive commercial and Board experience and we look forward to his contribution as a director," said Chairman, Tony Lennon.
Mr McKinnon has a career spanning over 40 years in senior financial and general management positions, including as Managing Director of both Fleetwood Corporation Limited and Austal Limited and spent 28 years with Capral Aluminium (formerly Alcan Australia) in various financial and senior executive positions. His other current directorships include Non-executive Chairman of Tox Free Solutions Limited and of the Esperance Port Authority, and Non-executive Director of Programmed Maintenance Services Limited.
Mr McKinnon said he is very pleased to be joining the Board of Peet, one of Australia's leading residential land developers.
"It is a privilege to be involved in a company with the proud history and strong values demonstrated by Peet
Limited. I am looking forward to being a part of the next phase of Peet's development," said Mr McKinnon.
The appointment of Mr McKinnon represents the second new appointment to the Peet Board this year, following the appointment of Ms Vicki Krause in April 2014 and is in accordance with the Board's plans for succession.
With these two new appointments, Messrs Graeme Sinclair and Steve Higgs announce their intention to retire from the Peet Board following the announcement of Peet's FY14 preliminary results in August 2014.
"Both Graeme and Steve joined the Board in the lead up to Peet's float on the ASX in 2004 and over the subsequent 10 years have made outstanding contributions to the Company, including Chairing the Audit & Risk Management Committee and Remuneration Committee, respectively," said Mr Lennon.
"On behalf of the Board and management of Peet, I pass on our great appreciation to Graeme and Steve and wish them continued success in the future."
In accordance with Peet's Constitution, Mr McKinnon and Ms Krause will offer themselves for election by shareholders at the 2014 Annual General Meeting to be held in November 2014.

For investor inquiries, call:

Brendan Gore

Managing Director and Chief Executive Officer

Peet Limited

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For media inquiries, call:

Marie Mills

Mills Wilson Communication Consultants

08 9421 3600, 0418 918 202 [e-mail]

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