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NBPOL announces new board appointment

Posted on: Wed, 18 Nov 2009 09:32:00 EST

Symbols: NBPOF

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Nov 18, 2009 (Datamonitor via COMTEX) --
NBPOF | Quote | Chart | News | PowerRating -- Papua New Guinea-based New Britain Palm Oil has appointed Joseph Tauvasa as an independent non-executive director of the company.

The company said that Mr Tauvasa has been a non-executive director on the board of Ramu Agri-Industries (RAIL), a company listed on the Papua New Guinea's Port Moresby Stock Exchange. He resigned as a director of RAIL when New Britain Palm Oil (NBPOL) completed its takeover bid for RAIL in 2008.

Mr Tauvasa held directorships in many companies in Papua New Guinea. He is the current chairman of South Pacific Brewery. He was a former chairman of Air Niugini and a former director of Westpac Bank PNG and Lihir Gold. He also served as president of the Institute of National Affairs, president of the PNG Australia Business Council and chairman of the National Airline Commission.

Antonio Monteiro de Castro, chairman of NBPOL, said: "I am delighted to welcome Sir Joseph to the board of NBPOL. Sir Joseph brings a wealth of business and strategic experience gained across a number of industries in Papua New Guinea to the board and I look forward to working with him."

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