The Morrison Government has made several changes to the Export Finance Australia (EFA) Board, the official export credit agency of the country. The EFA Board provides financial expertise and solutions to Australian exporters, especially small and medium sized enterprises (SMEs), to help them overcome the challenges posed by the COVID-19 pandemic and boost their exporting operations.
Mr James M Millar AM, the current Chair of the EFA Board, has been reappointed for a further three-year term. Mr Millar has been serving as the Chair since 2017 and has extensive experience in corporate finance, accounting, auditing and governance. He is also a director of several public and private companies, including Macquarie Group Limited, Macquarie Bank Limited and Origin Energy Limited.
Two new members join the EFA Board
The Morrison Government has also appointed two new members to the EFA Board for three-year terms. They are:
- Mr James Douglas, the Chair of Carbon Revolution Ltd, a late stage venture capital fund that supports Australian innovation and commercialisation. Mr Douglas is also the founder and managing director of Newmarket Capital, a private equity firm that invests in growth-oriented businesses. He has over 25 years of experience in investment banking, corporate finance and private equity.
- Mr Jimmy Wilson, the Chief Executive Officer of CBH Group, a leading Australian agribusiness and one of the world’s largest grain exporters. Mr Wilson has been leading CBH Group since 2018 and has a strong background in mining, engineering and operations. He was previously the President of BHP Billiton’s Iron Ore division and held various senior roles at BHP Billiton and Western Mining Corporation.
EFA plays a pivotal role in supporting Australian exporters
Federal Trade Minister Simon Birmingham welcomed these appointments and said EFA continued to play a pivotal role in assisting Australian exporters to respond to the challenges of COVID-19.
“Australian exporters continue to face significant challenges such as rising export costs, disruptions to supply-chains or loss of markets that are making it difficult for some of them to access vital commercial finance,” Minister Birmingham said.
“EFA’s suite of financial expertise and solutions, including the COVID-19 Export Capital Facility which our Government established earlier this year, will continue to help exporters to get back on their feet through helping to re-establish markets, provide working capital support or by helping exporters purchase new equipment to expand their operations.”
Minister Birmingham also said that the reappointment of Mr Millar and the appointments of Mr Douglas and Mr Wilson reflect the Morrison Government’s ambition to ensure EFA has broad perspectives on the Australian economy and expertise in debt financing.
“These appointments will help ensure strong oversight of EFA as it continues to assist Australian exporters, especially small and medium sized enterprises to boost their exporting operations and support local jobs.”
Minister Birmingham also thanked the outgoing Deputy Chair and Audit and Risk Committee Chair Mr Rick Sawers, Ms Denise Goldsworthy AO and Ms Laura McBain for their service to the EFA Board.
The new and reappointed board members join Ms Jodie Baker, Mr Rob Chapman, Ms Swati Dave, Ms Lynda Cheng and Ms Frances Adamson on the Board.
