Corporates 2: Skilled, Nufarm

By Glenn Dyer | More Articles by Glenn Dyer

Skilled Group yesterday revealed a series of high level changes involving two senior executives and a new director.

The company told the ASX that chief operating officer John Dixon had resigned.

Skilled Mr Dixon, who also was an executive director, had quit, with his departure to take effect from yesterday.

The company said Mr Dixon has resigned to pursue his own interests.

Skilled also announced the appointment of Mr Max Findlay as an independent non-executive director.

Skilled Group said Mr Dixon would remain as an advisor to the company and would chair the board of the Offshore Marine Services Alliance joint-venture.

Mr Findlay is a former managing director of Programmed Maintenance Services, the contract maintenance group.

That’s a role he held for 18 years.

Skilled Group also appointed Mr Tim Paine as company secretary and group general counsel.

For the past two years Mr Paine had managed his own consulting company, Skilled Group said.

Before that he spent four years at Symbion Health as general counsel and company secretary, and 12 years at ANZ Bank in various legal counsel roles.

Skilled said, "Mr Brendan Maher has been performing the role of Company Secretary since mid 2009, following the passing of Mr Ken Bieg. Mr Maher will be leaving SKILLED Group to pursue other interests".

Mr Maher had spent seven years at Skilled.

Skilled shares closed down just 1.5c at $1.76.

And agricultural chemicals group, Nufarm Ltd, says a tender offer for its shares from Japan’s Sumitomo Chemical Co. has so far seen acceptances totalling 5.52% of Nufarm’s shares.

Sumitomo has offered to acquire up to 20% of the total issued shares in Nufarm at $14.

The tender offer opened on March 12 and closes on April 9.

Nufarm said in a statement to the ASX yesterday that under the terms of the tender offer, Sumitomo would not acquire more than 20% of Nufarm shares.

"Under the terms of the shareholder deed between Nufarm and Sumitomo, dated 22 January 2010, Nufarm will have the power to control the exercise of voting and disposal of Sumitomo’s Nufarm shares, under certain conditions," Nufarm said.

"On this basis, Nufarm has a relevant interest in the shares in which Sumitomo has a relevant interest."

Nufarm shares were unchanged yesterday at $8.80.

About Glenn Dyer

Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.

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