G8 confirms David Foster as new Chairperson, as Mark Johnson steps down
G8 Education has provided an update on its succession planning process and has confirmed that David Foster will replace Mark Johnson as Chair of the Group and that two new non-executive directors have been appointed to fill roles vacated by retiring directors.
Mr Johnson had been in the role for nearly six years having joined as Chair in January 2016 with Mr Foster joining soon after as a non-executive director capacity.
Commenting Mr Foster said, “Mark’s chairmanship has enabled the Group to build a strong, scaleable foundation for future growth. During his six year tenure, G8 has built a high quality early education framework for its families and team members, pro-actively optimised the quality of its centre network and significantly strengthened the Group’s balance sheet, including the establishment of syndicated bank debt facilities that provide substantial flexibility for the Group to pursue its growth strategy.”
Managing Director and CEO, Mr Gary Carroll, added that the transformation referenced by David was “achieved in a very challenging environment, with the implementation of a new childcare subsidy framework being the most notable of a series of regulatory changes that have needed to be implemented by the Group.”
“In addition, navigating the challenges of COVID-19 over the last two years has been extremely demanding. Mark’s leadership of the Board during this period has been tremendous,” he added.
“On a personal level, I have benefited enormously from his support, counsel and guidance and looking forward, I expect a seamless transition to David as Chair given his extensive knowledge of G8 and substantial experience as Chair of ASX-listed companies.”
Two new non executive directors confirmed to complete board renewal
In addition to Mr Foster’s appointment G8 confirmed two additional non-executive directors will be joining the board to fill Mr Johnson’s vacated seat and that of Susan Forrestor who retired from her role after ten years of service in May 2021.
Ms Debra Singh brings a knowledge of leading cultural and operating transformations within large-scale distributed networks, with previous experience that includes roles as CEO of Fantastic Holdings and senior leadership roles at Woolworths as well as current directorship of ASX-listed Shaver Shop.
Ms Toni Thornton joins the G8 Board with strategic and capital markets knowledge gained during an extensive investment banking career as well as being a developer and operator of early learning centres.
“We welcome both Debra and Toni to the Board of G8,” Mr Foster said. “Their unique skills and experience, when combined with a strong cultural fit and passion for the early learning sector, make them valuable additions to the Board.”
Ms Singh and Ms Thornton will join existing non-executive directors Professor Julie Cogin, Margaret Zobel and Peter Trimble effective 29 November 2021.