Sims Limited Appoints Philip Bainbridge to Board of Directors

Rhea-AI Summary

Sims Limited has announced the appointment of Philip Bainbridge as an independent non-executive director, effective September 1, 2022. His extensive experience in the oil and gas sector, including roles at Oil Search Limited and BP Group, is expected to enhance the Board's expertise, especially in regions where Sims operates. Shareholder confirmation is set for the 2022 annual general meeting on November 8, 2022. This appointment follows Victoria Binns' addition to the Board in October 2021, reflecting Sims' commitment to Board renewal.

Positive

• Appointment of Philip Bainbridge brings extensive oil and gas sector experience.
• His international background is beneficial for Sims' operations in multiple jurisdictions.
• Strengthened Board composition with the addition of a seasoned executive.

Negative

• Potential concerns regarding continuity or experience gaps as new members join the Board.

– Independent Non-Executive Director fills casual vacancy on the Board –

SYDNEY, Sept. 1, 2022 /PRNewswire/ -- Sims Limited, a global leader in metal recycling, a leading provider of circular solutions for technology, and an emerging leader in renewable energy, today announced the appointment of Philip Bainbridge as an independent non-executive director effective 1 September 2022. Mr. Bainbridge's appointment to a casual vacancy on the Board of Directors will be confirmed by shareholders at the 2022 annual general meeting scheduled for 8 November 2022.

Mr. Bainbridge has extensive senior executive experience, primarily in the oil and gas sector across exploration, development and production. He has worked in a variety of jurisdictions, including North America, Europe, Asia and Australia. Mr. Bainbridge's most recent executive role was the Executive General Manager LNG for Oil Search Limited. Prior to that, he served in senior executive roles at Pacific National and BP Group.

Mr. Bainbridge is currently a Non-Executive Director at Beach Energy Limited and Newcrest Mining Limited. He is also the Chairman of the Global Carbon Capture and Storage Institute, and Sino Gas and Energy. Mr. Bainbridge was previously the Chairman of the Papua New Guinea Sustainable Development Program.

"I'm delighted to welcome Phil and his many years of invaluable executive level experience to our Board as an Independent Director," said Geoff Brunsdon, Chairman of the Sims Limited Board of Directors. "Phil's international experience will benefit the company and its shareholders as Sims Limited operates in many of the same jurisdictions. I believe his appointment is aligned with the company's purpose and strategy, and Phil's experience will complement the Board's existing mix of skills and experience. I look forward to working with him."

Mr. Bainbridge's appointment as an independent non-executive director follows Victoria Binns' appointment to the Board of Directors in October 2021, a testimony to Sims Limited's ongoing commitment to Board renewal.

About Sims Limited 
Founded in 1917, Sims Limited is a global leader in metal recycling, providing circular solutions for technology, and an emerging leader in renewable energy. Our 3,880 employees operate from more than 200 facilities across 15 countries. The company's ordinary shares are listed on the Australian Securities Exchange (ASX: SGM) and its American Depositary Shares are quoted on the Over-the-Counter market in the United States (USOTC: SMSMY). Our purpose, create a world without waste to preserve our planet, is what drives us to constantly innovate and offer new solutions in the circular economy for consumers, businesses, governments and communities around the world. For more information, visit www.simsltd.com. 

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SOURCE Sims Limited

FAQ

Who is Philip Bainbridge and what is his role at Sims Limited?

Philip Bainbridge has been appointed as an independent non-executive director at Sims Limited effective September 1, 2022.

When will Philip Bainbridge's appointment be confirmed by shareholders?

His appointment will be confirmed at the annual general meeting scheduled for November 8, 2022.

What experience does Philip Bainbridge bring to Sims Limited?

Bainbridge has extensive senior executive experience in the oil and gas sector, having worked for companies such as Oil Search Limited and BP Group.

How does Bainbridge's appointment align with Sims Limited's strategy?

His international experience is expected to benefit the company as it operates in similar jurisdictions, enhancing the Board's mix of skills.