NEDs who became CEOs and former CEOs who returned as NEDs

January 7, 2024

This list tracks non-executive directors of listed companies who previously held an executive position at the company, plus NEDs who then became a senior executive.

NEDs who become executives at the same company

Patrick Allaway, Bank of Queensland: joined the board in May 2019 and appointed chair in October 2019. Then transitioned to CEO initially temporarily in late 2022 after the departure of George Frazis and then permanently in August 2023. The current BoQ profile is a bit light on when it comes to explaining this history.

Geoff Bainbridge, Lark Distilling: was part of a board coup to take over Lark Distilling and then immediately stepped in as CEO after the CEO and CFO quit but then was forced to resign himself in 2021 after The Australian revealed some inappropriate videos.

Viet Dinh: served on the News Corp from 2004 until 2013 and then did a further 5 years on the demerged 21st Century Fox board from 2013 until 2018 before taking up an executive position at Fox which paid him more than $100 million up until his departure on December 31, 2023.

Greg Hywood: appointed to the Fairfax board in October 2010 and then appointed interim CEO after Brian McCarthy was given the boot in December 2010. Was confirmed permanently in the role in March 20122 and served until the completion of the merger with Nine in 2018.

Hugh Marks, Nine: served on the Nine board as a NED and was then appointed CEO until his sudden exit in November 2020 after it was revealed he had a relationship with one of his executives.

Dominic Stevens, ASX: the former Challenger CEO retired as an executive in 2012 and joined the ASX board in 2013 after which he was appointed CEO in August 2016 when Elmer Funke Kuppe suddenly left over a governance issue related to his days at Tabcorp.

Non-founder Executives who depart and later return as a director

John Bevan, Alumina:
retired as Alumina CEO in 2013 and returned as a director in 2018. See profile.

Chase Carey, News Corp: Irish-born executive who scored an MBA from Harvard and then joined News Corp in 1988 where he remains to this day as "lead independent director" of Fox Corp, amidst a variety of board and executive roles over the past 35 years.

Richard Euchtritz, JB Hi Fi: the former JB Hi Fi CEO returned as a NED.

Brian McNamee, CSL: did a fabulous job as CEO of CSL for more than two decades until retiring in 2013, then returned as a director in February 2018 before replacing John Shine as chair in October 2018.

Pat Ramsay, Aristocrat: only worked for 9 months at Aristocrat before joining the board as a NED - see explanation for classifying him as an independent on page 4 of this document.