SkyCity to appoint new non-executive directors

The company intends to appoint Kate Hughes and Glenn Davis as non-executive directors.

New Zealand.- SkyCity has announced that it will Kate Hughes and Glenn Davis as non-executive directors to the its Board. SkyCity chair Julian Cook said the company was restructuring its board committee structure and ntends to appoint Huges as chair of a new Risk and Compliance Committee expected to be established later this year. 

He said: “Kate and Glenn are experienced professionals and bring considerable expertise to the SkyCity Board across a diverse range of sectors and industries. We are delighted that they have agreed to join the SkyCity Board.”

Hughes is an experienced non-executive director, holding board and committee roles across a diverse portfolio, including the Victorian Department of Justice and Community Safety, Department of Transport, Department of Health, SuniTAFE and Lower Murray Water. 

According to the statement, she also holds committee roles with two Commonwealth regulators, Comcare and Seacare Authority and the Australian Prudential Regulation Authority.

Davis has practised as a solicitor in corporate and risk throughout Australia for over 35 years. He has expertise and experience in the execution of large transactions, risk management and in a corporate activity regulated by the Australian Corporations Act and the ASX.

He is currently the Chair of ASX-listed companies Beach Energy Limited and iTech Minerals Limited.

SkyCity will release its FY22 result on August 25. According to its earnings guiance, it expects normalised earnings before interest, taxes, depreciation and amortization (EBITDA) of between AU$135m to AU$140m. It expects group normalised net profit after tax (NPAT) of between AU$3.5m to AU$7m.

The company said it has seen a strong performance from its local gaming businesses while its non-gaming businesses continue to recover, benefiting from positive domestic tourism, particularly during the weekend and holiday periods.