One of Australia’s biggest cement groups has complex boardroom dynamics because major shareholder, the Barro group, is also a rival.
Vanessa Guthrie has resigned as lead independent director and deputy chairwoman as former Transurban chief financial officer Samantha Hogg is given the job of steering a complex corporate governance framework.
Adbri’s share price has halved since August 2021, when the stock was at $3.85. The shares were at $1.86 in early trading on Monday on the ASX. Ms Hogg, who has been a director at AdBri since March last year, will take over both roles. Vanessa Guthrie is exiting from one of Australia’s biggest cement groups, Adbri. She was the deputy chair and lead independent director.owns 43 per cent of Adbri, which has an unusual situation in the boardroom, where chairman Raymond Barro is both a major shareholder and also a competitor to Adbri.
The board of Adbri jettisoned chief executive Nick Miller in October as the group’s profits continued to slide from rising costs, wet weather and shrinking margins. Mr Miller was replaced with an interim chief executive, Mark Irwin, a former chief commercial officer at
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