Hygrovest Ltd (ASX:HGV) has reshuffled its board with Warwick Sauer and David Prescott appointed as independent non-executive directors, effective immediately.
The company also said that both Winton Willesee and Michael Curtis will retire from the board immediately.
Curtis will remain in his role as managing partner of Parallax Ventures Inc whose current term as HGV’s investment manager expires on June 30, 2023.
The remaining continuing directors, Peter Wall and Doug Halley, have agreed to remain in place until such time that a new investment manager is appointed to HGV.
HGV chairman Peter Wall said: “I would like to personally acknowledge Winton and Michael for their considerable efforts and input over a long period and wish both of them well.
“I also welcome Warwick and David who collectively bring extensive experience in investment management, corporate governance and regulatory compliance to assist the company build shareholder value.”
Warwick Sauer
Sauer is a corporate lawyer with 25 years’ experience, focusing on commercial law, capital markets, mergers and acquisitions, and litigation.
He spent 14 years with Property Services Multinational JLL, including seven years as general counsel for JLL’s $4 billion APAC business, managing a team of 75.
Sauer is also a director of a privately held investment company which focuses primarily on investing in deep value and ‘net/net’ stocks and assisting management in realising that value.
David Prescott
Prescott is the founder and managing director of Lanyon Asset Management, a value-focused boutique investment firm founded in 2009, responsible for managing assets for institutional and high net worth clients with a track record of outperformance.
He has over 20 years’ experience in funds management in Australia and the United Kingdom, and prior roles including Head of Equities at CP2.