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Government announces RBA board replacement

Government announces RBA board replacement

Treasurer Scott Morrison has announced Kathryn Fagg’s replacement on the board of the Reserve Bank of Australia.

Dr Gweneth Craik has been appointed as a part-time member of the RBA’s board for a five-year term, effective as of 7 May 2018.

Ms Craik currently serves as chair of the Climate Change Authority, the Steering Committee of the National Environmental Science Program Climate Science and Earth Systems Hub, and the NSW Marine Estate Management Authority.

Ms Craik is also a member of the Advisory Board for the Centre for Strategy and Governance and the Australian Farm Institute.

“Dr Craik has a deep and varied range of experience across a range of areas of economic policy, which will enable her to make a strong contribution to the Reserve Bank board,” Treasurer Morrison said.

The new appointee previously served as CEO of the Murray Darling Basin Commission, executive director of the National Farmers’ Federation, commissioner of the Productivity Commission and deputy chancellor of the University of South Australia.

Ms Craik also received the Federation of Australia Medal in 2001 and was honoured as a Member of the Order of Australia in 2007, in recognition for her service to the natural resource sector and for her contributions to policies affecting rural and regional Australia.

She also holds a PhD in Zoology from the University of British Columbia as well as a graduate diploma of management from Capricornia Institute of Advanced Education.

Mr Morrison acknowledged the work of outgoing board member Ms Fagg, whose term ends on 6 May 2018.

“Ms Fagg made an important contribution to Reserve Bank board deliberations through a challenging period for the Australian economy,” the Treasurer added.

“The government is particularly appreciative of Ms Fagg’s work as chair of the Reserve Bank board Audit Committee and as the board’s representative on the Note Printing Australia Ltd board.

“I thank her for her service and wish her every success for the future.”

[Related: Banks compensating for ‘sharp’ fall in investor lending]

Government announces RBA board replacement
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