CSR appoints Michael Ihlein as a non-executive director

CSR Limited announced today that Mr Michael Ihlein will join the Board as a Non-Executive Director with effect from the close of the Annual General Meeting to be held on 7 July 2011.

Mr Ihlein is currently a Non-Executive Director and Chair of the Audit & Risk Committee of Westfield Retail Trust. He was formerly Chief Executive Officer and Executive Director of Brambles Limited until November 2009, prior to which he was Chief Financial Officer of that company for four years.

CSR Chairman-elect, Jeremy Sutcliffe, said he was very pleased to welcome Mr Ihlein to the CSR Board. “Mike has had extensive financial, operational, governance and board experience over many years. He has significant experience in manufacturing and logistics (both in Australia and internationally) and he is a highly skilled finance executive which will be extremely valuable to CSR. He will be an excellent addition to the Board.”

Mr Ihlein has also had a long career with Coca-Cola Amatil Limited including seven years as Chief Financial Officer and Executive Director. He was also previously Managing Director of Coca-Cola Amatil Poland and has held a number of senior finance, business development and treasury roles in Coca-Cola Amatil Limited.

Mr Ihlein is a member of the Australian Institute of Company Directors and the Financial Services Institute of Australia and holds a Bachelor of Business from the University of Technology, Sydney.

Mr Ihlein will become a member of CSR’s Risk & Audit Committee and Safety, Health & Environment Committee. He will stand for election to the Board at CSR’s Annual General Meeting in July 2012, and will be remunerated in accordance with the attached schedule of directors’ fees, which applies to CSR non-executive directors from 1 April 2011.


CSR schedule of Directors’ fees – effective 1 April 2011

Chairman fee (includes all Committees): $317,500 pa
Non-executive director fee (includes 1 committee): $127,000 pa
Chair of Risk & Audit Committee: $30,000 pa
Chair of Remuneration & HR Committee: $20,000 pa
Chair of Safety, Health & Environment Committee: $15,000 pa
Additional Committee fee: $10,000 pa per committee

The above fees are exclusive of any superannuation guarantee contributions.