Export Finance Australia Board appointments announced

In a statement released today, the federal govenment announced that a number of changes have been recently made to the Export Finance Australia Board.

Export Finance Australia Chair James M Millar AM has been appointed for a further three-year term, while Chair of Carbon Revolution Ltd James Douglas and CBH Group Chief Executive officer Jimmy Wilson have both been appointed to the EFA Board for three-year terms.

Victorian-based James Douglas is the Founder of Newmarket Capital, a late stage venture capital fund established to support Australian innovation and help create an ecosystem where Australian ideas are developed and commercialised by Australians. He is also Chair of listed Australian company Carbon Revolution and a Director of Acorn Capital. He has more than 20 years of senior investment banking and SME-focused venture capital experience in Australia and the United States.

Western Australian-based James “Jimmy” Wilson is currently Chief Executive Officer of CBH Group and has previously headed BHP’s iron ore division. He is a leader in the Australian grain industry along the value chain from grain storage, handling, transport, marketing and processing. Wilson has significant international infrastructure and supply chain experience in Australia, South Africa, the USA, South America and Indonesia in multiple commodities.

Trade Minister Simon Birmingham welcomed these appointments and said Export Finance Australia continued to play a pivotal role in assisting Australian exporters to respond to the challenges of COVID-19.

“Australian exporters continue to face significant challenges such as rising export costs, disruptions to supply-chains or loss of markets that are making it difficult for some of them to access vital commercial finance,” Minister Birmingham said.

Minister Birmingham continued that EFA’s suite of financial expertise and solutions, including the COVID-19 Export Capital Facility which the Government established earlier this year, will continue to help exporters to get back on their feet through helping to re-establish markets, provide working capital support or by helping exporters purchase new equipment to expand their operations.

Commenting on the latest appointments in EFA, Minister Birmingham said the reappointment of Millar and the appointments of Douglas and Wilson reflect the Morrison Government’s ambition to ensure EFA has broad perspectives on the Australian economy and expertise in debt financing.

“These appointments will help ensure strong oversight of EFA as it continues to assist Australian exporters, especially small and medium sized enterprises to boost their exporting operations and support local jobs,” he said.

Minister Birmingham also thaked outgoing Deputy Chair and Audit and Risk Committee Chair Rick Sawers, Denise Goldsworthy AO and Laura McBain for their service to the Export Finance Australia Board

The new and reappointed board members join Jodie Baker, Rob Chapman, Swati Dave, Lynda Cheng and Frances Adamson on the Board.

Export Finance Australia is the Morrison Government’s export credit agency, providing financial expertise and solutions to Australian exporters through loans, guarantees, bonds and insurance options.