The announcement follows Mr Rue’s decision to retire from News Corp Australia after 17 years of service, the last 10 as Chief Financial Officer. Mr Rue was appointed to the REA Group Board as a nominee of majority shareholder News Corp Australia in September 2003.
Chairman Hamish McLennan acknowledged Mr Rue’s decade of service to the Board, including his role as a Member of the Audit Risk and Compliance Committee.
“Stephen’s exceptional commercial and financial acumen has provided great value to the Board over the past 10 years. We are grateful for the significant contribution Stephen has made to our business over this time and wish him well in his retirement,” said Mr McLennan.
Peter Tonagh, newly appointed Chief Operating Officer at News Corp Australia, together with William Lewis, Chief Creative Officer at News Corp, will be appointed to the Board as nominees of News Corp Australia, effective after the Company’s Annual General Meeting on 13 November 2013.
Mr Tonagh recently joined News Corp Australia having previously held the position of Chief Operating Officer and Chief Financial Officer at Foxtel.
Mr Lewis joined News Corp as Group General Manager at News UK in London in September 2010. He currently holds the position of Chief Creative Officer at News Corp and is based in New York.
Mr McLennan said: “I am delighted to welcome Peter and Will to the Board. Peter and Will both bring extensive business experience to the role and we look forward to working with them to continue to drive the growth of our business.”
Source: REA Group