Future Generation Australia (ASX: FGX) proudly announced the addition of Dr. Philip Lowe to its Board of Directors as an independent director, with a further step into the role of Chair after the company’s Annual General Meeting slated for May 2024.
Dr. Lowe, renowned for his tenure as Governor of the Reserve Bank of Australia (RBA) from 2016 to 2023, marks his first board appointment post-RBA with this role, taking over from the esteemed former NSW Premier Mike Baird AO.
Dr. Lowe expressed his enthusiasm for the Future Generation model, highlighting its alignment with his lifelong mission to uplift the welfare of Australians, especially the vulnerable youth. “I think the Future Generation model is brilliant. I’ve always strived to be associated with organisations that enhance the welfare of Australians, so it’s a privilege to work with Future Generation Australia’s shareholders and pro bono fund managers to support our most vulnerable youth,” Dr. Lowe remarked.
Mr. Baird, echoing the sentiments of welcome, praised Dr. Lowe’s financial acumen and ethical leadership during his 43 years at the RBA, expressing his delight in continuing their collaboration on the board.
Geoff Wilson AO, Founder and Director of the Future Generation companies, accentuated Dr. Lowe’s invaluable insight into financial markets and his commitment to social and economic betterment for the community. Wilson also commended Baird for his pivotal role in expanding the company’s social investments to $37.8 million.
Caroline Gurney, CEO of Future Generation, underscored the significance of Dr. Lowe’s vast experience, from witnessing major economic reforms and crises to steering policy responses, deeming it a substantial asset for the company. Highlighting the collective decision of the directors, including Dr. Lowe, to forgo standard fees to maximize social investments reflects the board’s commitment to balancing shareholder value with social impact.
