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New board appointment for ASC Pty Ltd.

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Senator the Hon Nick Minchin

Minister for Finance and Administration Leader of the Government in the Senate

Media Release

63/2007 28 August 2007

New Board appointment for ASC Pty Ltd

Former Chief of the Royal Australian Navy Vice Admiral Chris Angus Ritchie AO has been appointed to the Board of ASC Pty Ltd, the Minister for Finance and Administration, Senator Nick Minchin, announced today.

“Chris Ritchie’s strong naval background and valuable knowledge of Defence’s operational requirements will ensure he adds considerable value to the work of the ASC Board,” Senator Minchin said.

“His distinguished background and career achievements make him an excellent addition to the Board, and we look forward to his contribution as ASC continues to expand and meet its future commercial challenges,” he said.

Chris Ritchie will replace the late General (Rtd) John Baker AC DSM on the Board., with current Board members Mr John Prescott AC (Chairman), Mr Greg Tunny (CEO), Mr Charles Bagot, Mr Graeme Bulmer, Mr Mike Terlet AO, Mr Geoff Phillips and Dr Bill Schofield AM to continue as ASC Directors.

Chris Ritchie joins the Board at an exciting time for ASC. In May 2005, the Australian Government selected ASC as the shipbuilder for Australia's Hobart Class Air Warfare Destroyer (AWD) Program, with ASC to conduct the final assembly of the AWDs at their Adelaide shipyard - creating more than 800 jobs in a range of different roles including design, construction and support positions.

ASC (formerly known as the Australian Submarine Corporation) is the Government-owned shipbuilding company based in Adelaide. It is the Government’s current intention that, if it is re-elected at the 2007 Federal election, ASC will be returned to private ownership through a competitive tender trade sale starting in late 2007 and concluding in the second half of 2008.

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This page was last updated 28 August, 2007

Media Contact: Senator Minchin's Office - Simon Troeth (02) 6277 7400/ 0439 300 335