BLUE SKY APPOINTS TWO NEW INDEPENDENT DIRECTORS

BLUE SKY APPOINTS TWO NEW INDEPENDENT DIRECTORS
BLUE Sky Alternative Investments (ASX: BLA) has appointed two new independent, non-executive directors to its board: Michael Gordon and Philip Hennessy.

The two appointments go some way to address criticism about the previous lack of independent directors on Blue Sky's board. Previously, chairman, John Kain, was the single independent member of the seven-person board.

Gordon (pictured right) brings 30 years' experience in financial services and funds management to Blue Sky. Previously, he was group executive for Perpetual Investments where he was responsible for more than $30 billion of funds under management.

Gordon's resume also includes time at global chief investment officer at BNP Paribas Investment Partners in London, global CIO at Fidelity International and joint managing director and CIO for Schroders in Australia.

Hennessy (pictured below left) was the Queensland chairman of KPMG from 2000 until he retired in 2013, and he also served as the firm's Queensland Audit Committee Institute chair. Hennessy is currently an independent director and advisor to a range of organisations, including at the Blue Sky Alternatives Access Fund (ASX:BAF) since it listed in 2014 he will retire from this role on 31 May 2017.

Blue Sky chairman John Kain says Gordon and Hennessy bring skills that will enhance Blue Sky's growth as it scales.

"Michael's deep knowledge of institutional capital and his hands-on experience running large institutional funds management businesses in Australia, Europe and Asia will be invaluable in helping drive that growth," says Kain.

"Phil clearly has a very strong accounting, audit and risk management pedigree. This is a critical element of our business and one where we have built a strong track record over the past decade," says Kain.

"Through his role as independent director of the Blue Sky Alternatives Access Fund and chair of its audit and risk committee, he also brings a deep knowledge of our business.

"Phil's experience will further strengthen Blue Sky's audit and risk management capability as our business expands in Australia and offshore."
Blue Sky is trading steady on the ASX in early trading this morning, up 0.13 per cent at $7.49 per share at 10.30am AEDT.

For a daily list of new appointments from across the Australian business scene, subscribe to the Business News Australia newsletter.

 

Get our daily business news

Sign up to our free email news updates.

 
Unpacking equity: Finding your funding fit
Partner Content
Armed with a growing business and a great opportunity, a business owner’s next challe...
Australian Business Growth Fund
Advertisement

Related Stories

Space Machines Company’s partnership with Orbit Fab blasts into orbit aboard SpaceX Transporter

Space Machines Company’s partnership with Orbit Fab blasts into orbit aboard SpaceX Transporter

The mission by Adelaide-based Space Machines Company to deliver &ls...

Brisbane Korean BBQ icon Maru salvaged by restructuring plan with creditors

Brisbane Korean BBQ icon Maru salvaged by restructuring plan with creditors

A Brisbane Korean barbecue icon will live on to grill another day a...

Gilmour Space receives green light for Australia's first orbital spaceport

Gilmour Space receives green light for Australia's first orbital spaceport

Fresh after raising $55 million in a Series D round led by the...

Survey finds founders 'more accepting of economic challenges' with earlier push to profitability

Survey finds founders 'more accepting of economic challenges' with earlier push to profitability

A survey of Australian founders conducted by law firm Herbert ...