28 Nov 2011

Warehouse to seek new directors across Tasman

7:12 am on 28 November 2011

The Warehouse may extend its search for directors to Australia as it struggles to find fresh young talent to join its board.

Last week the largest listed retailer in the country obtained shareholders approval to increase directors fees by nearly $7000 to $75,000, with backing from the Shareholders Association.

But concerns have been raised about the current age of the board members, which range from 56 to 72, and a lack of new blood.

Chairman Graham Evans admits the company has struggled to bring younger people, aged from their late 40's to early 60's, to the board table.

But he says that with the newest director, Ted van Arkel, there are now three ex-retailers with considerable experience on the board, as well as people with financial skills and fast moving consumer goods background.

Mr Evans says the current board has a strong mix of experience and talent, but it is important to keep searching for the right people.