Mr. Ewen Crouch AM has been appointed a non-executive director of BlueScope Steel effective immediately, the announcement made on Tuesday by BlueScope Steel Chairman Graham Kraehe.
“We are very pleased to welcome a director of Ewen’s caliber to the Board,” says Mr. Kraehe. “His legal expertise and broad commercial and transactional experience will be a great asset to the BlueScope Board as it goes through a period of renewal.”
Mr. Crouch is considered to be one of Australia’s leading mergers and acquisitions (M&A) lawyers. His impressive credentials include being Chairman of Partners from 2009 to 2012 at Allens, one of Australia’s leading commercial law firms. He was a partner of the firm from 1988 until his retirement in January this year.
During his career he held a number of other roles, including Co-Head of M&A and Equity Capital Markets, Executive Partner International Offices and Deputy Managing Partner, according to the BlueScope news release.
He is also a Fellow of the Australian Institute of Company Directors and a member of the AICD’s Law Committee and Director Education Reference Groups. He is also a member of the Corporations Committee of the Law Council of Australia, a member of the Takeovers panel, and Chairman of Mission Australia.
In February 2013 Mr. Crouch was appointed a non-executive director of Westpac Banking Corporation.
“I am looking forward to joining the BlueScope Board at an exciting time for the Company and feel that my background and experience enables me to contribute to the Company’s future success,” says Mr. Crouch.
BlueScope Steel is a flat product steel producer with operations in Australia, Asia, New Zealand North America and Pacific Islands. The company employs close to 17,000 people in 17 countries, with over 100 manufacturing facilities worldwide.
Just last month ABC News reported that the company posted a net loss of $12 million for the half-year to December 31 2012, but this figure has already dropped dramatically from the $530 million loss in the equivalent period a year earlier. The improvement is due to the steelmaker cutting off jobs, exiting the export market and closing a blast furnace.
According to ABC the company also made an underlying profit – which excludes one-off costs and write-downs – of $10 million, which BlueScope says exceeded its previous forecasts.