core sector communique

BHP Billiton Board Changes

24 March 2011

BHP Billiton Chairman, Jac Nasser, today announced that Mr Alan Boeckmann will retire from the Board and Mr Lindsay Maxsted will be appointed as an independent Non-executive Director, both effective as of today.

Mr Maxsted is Chairman of infrastructure company, Transurban Group, and a Non-executive Director of Westpac Banking Corporation, where he is Chairman of the Audit Committee and a member of the Risk Management Committee. He was previously KPMG Australia CEO from January 2001 to December 2007.

”Alan Boeckmann has made an extremely valuable contribution to the BHP Billiton Board and the Remuneration Committee through his extensive global project experience and business acumen.

“We will miss his contribution and wish him and his family continued success.

“Lindsay Maxsted’s appointment follows a rigorous succession planning process to identify candidates with the skills and expertise to be able to make a significant contribution to the Board. His financial acumen and extensive experience make him an excellent addition as a Non-executive Director.

“His appointment reflects our continual focus on the renewal of the Board’s skills and experience”, Mr Nasser said.

A corporate recovery specialist, Mr Maxsted spent his career managing a number of Australia's largest corporate, workout and turnaround engagements.  He continues to undertake consultancy work in the restructuring advisory field.

The appointment of Mr Maxsted means the number of BHP Billiton directors remains at 12.

Lindsay Maxsted

Lindsay Maxsted is the Chairman of Transurban Group and a Non-executive Director of Westpac Banking Corporation, where he chairs the Audit Committee and is a member of the Risk Management and Nominations Committees.

Mr Maxsted was KPMG Australia CEO from January 2001 to December 2007. During this time the KPMG Australia business increased its revenue from A$510 million per annum to in excess of A$900 million per annum. At 31 December 2007 KPMG Australia employed 4,700 people. Mr Maxsted’s principal area of practice prior to his becoming CEO was in the Corporate Recovery field managing a number of Australia's largest corporate, workout and turnaround engagements.

At the request of the Victoria State Government (Australia), Mr Maxsted was appointed to the Board of the Public Transport Corporation in December 1995 and was its Chairman from 1997 to 2001. As Chairman, he had the responsibility of guiding the Public Transport Corporation through the final stages of a significant reform process.

Mr Maxsted is also Honorary Treasurer of Baker IDI Heart and Diabetes Institute.  He was previously a director of Racing Victoria Limited, the non-executive Chairman of VicRacing Pty Ltd and a Non-executive Director of St George Bank Limited.