I am pleased to announce the reappointment of Mr John Akehurst to the Reserve Bank of Australia Board (RBA Board) for a further five-year period commencing 31 August 2012.
Mr Akehurst has been a member of the RBA Board since 2007, and this will be his second term.
Mr Akehurst has made a valuable contribution to the deliberations of the RBA Board over the past five years and brings extensive business experience and knowledge of the mining and energy industries in particular. He is a director on a number of boards, including CSL Limited, Origin Energy Limited and the University of Western Australia Business School.
This reappointment is made in accordance with section 14 of the Reserve Bank Act 1959, which provides for nine Board members including the Governor, the Deputy Governor, the Secretary of the Treasury and six other members.
I take this opportunity to congratulate Mr Akehurst on his reappointment and thank all Board members for their ongoing contributions to the RBA Board, which has played a key role in ensuring Australia's ongoing economic strength and stability.