October 22, 2008


AWB's potential chairman - Peter Polson


Subject to shareholder approval, Peter Polson, deputy chairman of Australian agribusiness AWB Ltd. (AWB.AU), will become chairman of the company at the conclusion of Wednesday's shareholder meeting, said retiring Chairman Brendan Stewart Wednesday, 15 October 2008.


Melbourne-based AWB's board met Wednesday, 15 October 2008 morning and agreed Polson should step into the role.


Polson, who is also chairman of Challenger Financial Services Group Ltd. (CGF.AU), was appointed to AWB's board in 2003 and has served with distinction.


Polson was appointed acting chief executive of AWB early in 2006 after then-managing director Andrew Lindberg resigned unexpectedly after his public appearance before the Cole Royal Commission of inquiry into the Iraqi kickbacks scandal in which the company was enmeshed.


Stewart said Peter is the most experienced member of the current board and the best candidate to ensure a seamless transition as chairman of AWB.


Stewart severs formal ties with the AWB board after election as director in February 2000, then as chairman in March 2002.