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Jeff Eather has been appointed to the role of Chairman.

Friday 28 October, 2016.

The Board of Newcastle Permanent Building Society today announced the appointment of Jeff Eather to the role of Chairman. Mr Eather replaces long serving Chair Michael Slater who stepped down after today’s Annual General Meeting (AGM). 

Mr Eather was elected at a special Board meeting that followed Newcastle Permanent’s AGM held today at Fort Scratchley. 

Commenting on his appointment as Chairman, Mr Eather said, “Newcastle Permanent is an iconic financial institution in the Hunter and I am deeply honoured to have been chosen by my fellow Directors to be its Chairman.” 

“I would like to acknowledge the wonderful service Michael Slater has given the organisation in his role as Chairman for the past 9 years. Under his stewardship the organisation has continued to grow and is now recognised as Australia’s financially strongest customer owned financial institution,” Mr Eather said. 

“I look forward to the challenges this position brings and will work hard to ensure the organisation maintains its positive growth trajectory and continues to deliver value to our customers.” 

Mr Eather, a former CEO of NBN Television, has served on the Newcastle Permanent Board since May 2013 and has held roles as Chairman of the Audit committee and as a member of the Corporate Governance & Nominations and Risk Management committees. He is a qualified accountant, a Director of Newcastle Friendly Society and Hunter Water Corporation and Managing Director of the Callaghan Institute. 

Former Chairman Michael Slater said of Jeff’s appointment, “Jeff is an experienced businessman. He has strong corporate governance credentials and has earned the respect of his peers. I am confident he will make his own positive mark with the organisation.” 

“I have enjoyed my role as Chairman and I look forward to continue serving as a Director with Newcastle Permanent following my re-election at today’s AGM,” Mr Slater said. 

At today’s AGM Newcastle Permanent presented a profit of $40.9 million net profit after tax.

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*Each year the additional financial benefit customers receive by banking with Newcastle Permanent rather than holding the equivalent products at one of four major banks is calculated by CANSTAR - one of Australia’s leading financial services research firms. This benefit is called the ‘Mutuality Dividend’ and this year our customers received $54.7 million in value as a result of banking with Newcastle Permanent rather than one of the four major banks.