Alterra Limited (ASX:1AG) is pleased to announce that John McGlue has been appointed as a Non-Executive Director of the Company. The appointment is effective 10 June 2020.
Mr McGlue is the Principal of Castle Gates Australia, a firm that advises on creating, enhancing, and protecting shareholder value in corporate transactions, complex disputes, capital markets positioning and shareholder actions. He is also a member of the Australian Takeovers Panel.
Mr McGlue is a former Chairman Australia and Senior Managing Director of FTI Consulting Strategic Communications (NYSE: FCN). He previously worked as an industrial equitiesâ€™ analyst and institutional dealer with Porter Western (now Macquarie) and was later CEO of national group Australian Discount Stockbroking Limited.
Mr McGlue joined Alterraâ€™s advisory board in January 2020 and has been working with the board and management team as the Company pursues avocado developments in Western Australia and expands its pipeline of large-scale horticultural projects.
Alterra Chairman Trevor Stoney said he was delighted to welcome Mr McGlue to the Board of Directors at such an exciting time in the Companyâ€™s history.
â€œJohn brings great skills and experience in capital markets and managing investors at all levels in the listed sector,â€ said Mr Stoney.
â€œAlterra is in a growth phase and Johnâ€™s extensive background will assist the company in executing our projects and, importantly, in driving value for our shareholders.
Mr McGlue said he looked forward to working with the Alterra board and management team to create value for investors and at the same time make a meaningful positive impact on how water resources are utilised in Western Australia.
â€œI am delighted to join the Alterra board at such a pivotal time for the Company,â€ said Mr McGlue.
â€œAlterra is well-positioned to leverage the growing investor appetite for productive Australian farmland, particularly in Western Australia with its unique climate profile and water resources.
â€œThere is an abundance of potential in the south-west of WA and key to unlocking these opportunities is matching outstanding projects with the growing number of capital providers seeking direct exposure to the sector.â€
Alterra will provide a market update on its project pipeline, led by the flagship 300-hectare Carpenterâ€™s avocado project in Pemberton, later this month.