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Shopping Centres Australasia shuffles board, increases distribution

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Shopping Centres Australasia shuffles board, increases distribution

Shopping Centres Australasia Property Group made a number of board changes and increased its distribution for the second half.

Nonexecutive Director James Hodgkinson will resign from his post Dec. 31 after a six-year tenure.

Hodgkinson will also vacate his membership on the company's nomination, remuneration, investment, and audit, risk management and compliance committees, according to a release.

Steven Crane and Beth Laughton will join the board as nonexecutive directors Dec. 13.

Crane is the chairman of Nib Holdings Ltd., a nonexecutive director of the Australian Pipelines Group, and was also the previous CEO of ABN Amro and BZW Australia.

Laughton is a nonexecutive director of GPT Funds Management Ltd. and chairperson of its audit, compliance and risk management committee. She is also a nonexecutive director of JB Hi-Fi and chairs its audit and risk management committee.

The company announced a second-half distribution of 7.25 Australian cents per share, compared to a previous semiannual distribution of 7.10 cents per share.