New appointments to the Export Finance and Insurance Corporation Board

Australian Government Minister for Trade, Warren Truss, today announced the appointment of Ms Sally Pitkin and Mr David Crombie to the Board of the Export Finance and Insurance Corporation (EFIC).

As Board members, Ms Sally Pitkin and Mr David Crombie will guide EFIC in its role of assisting Australian companies exporting and investing overseas through the provision of a range of medium to long-term finance and insurance services.

Mr Truss said he was delighted to welcome both Ms Pitkin and Mr Crombie join the EFIC Board.

“Ms Pitkin brings a wealth of relevant experience to the EFIC Board as she is a successful solicitor with expertise in corporate governance and the financial sector,” Mr Truss said.

“Mr Crombie’s extensive commercial and representational experience in the major export sector of agriculture and on various boards will enable him to provide relevant input to the EFIC Board.”

Ms Pitkin and Mr Crombie fill two vacant positions arising from changes to the EFIC Board and the end of a Board member’s term.

From 1 July 2007, the Board size and structure changed as a result of the Review of the Corporate Governance of Statutory Authorities and Office Holders undertaken by Mr John Uhrig, AC. Thus, the Board terms have ended for Mr Mark Paterson, the Secretary of the Department of Industry, Tourism and Resources, and Mr Peter O’Byrne, Managing Director of the Australian Government’s export promotion agency, Austrade. Further to these changes, Ms Yasmin Allen’s term on the EFIC Board ends on 3 August 2007.

Mr Truss thanked the outgoing directors of the EFIC Board for their services.

“Their invaluable contribution to the Board during a challenging period has enabled EFIC to adapt to the changing market conditions in which it operates and to remain in a strong financial position.

“The outgoing directors worked through the sale of the short-term credit business in 2003 and the 2006 review of EFIC.

“I am confident Ms Pitkin and Mr Crombie will provide excellent input to the EFIC Board to ensure EFIC continues to provide world-class services for Australian exporters,” he said.

Media Inquiries: Minister Truss' office 02 6277 7420 - Departmental Media Liaison 02 6261 1555