RIC Board changes and new appointments announced

The Federal Government has appointed two new Regional Investment Corporation (RIC) Board members, Sally Freeman and Michael Carroll, replacing outgoing Board members Lucia Cade and Mark Lewis whose terms ended effective 28 June 2021.

RIC Chair Karen Smith-Pomeroy welcomed Ms Freeman and Mr Carroll to the RIC Board effective 20 July 2021, as well as thanking inaugural RIC Board members Ms Cade and Mr Lewis for their valuable contribution to the RIC Board since their commencement in March 2018.

“Sally is a values-driven non-executive director who brings deep risk management and governance experience making her an excellent addition to the RIC Board,” Ms Smith-Pomeroy said.

“Mike brings more than 35 years professional experience in food and agribusiness, including a senior executive career at the National Australia Bank (NAB) establishing and leading its agriculture division.

“The RIC has entered a new stage of operations with a focus on ongoing management of our customer relationships and loan portfolio. We look forward to Sally and Mike bringing their extensive strategic leadership and value creation experience to the RIC.

“On behalf of the RIC and the Board I’d like to thank Lucia and Mark for their valuable contribution. As inaugural RIC Board members their contribution has been integral in the RIC’s establishment and evolution in providing government-backed financial support to thousands of Australian farmers.”

RIC Board member Prue Bondfield has also been reappointed for another term until 19 April 2023 and Sharon Starick’s term remains ongoing until 3 April 2022.

For more information on the RIC Board visit www.ric.gov.au/about/board

Media contact: Sarah Joseph | E media@ric.gov.au | M 0435 168 885

About the Regional Investment Corporation
The Regional Investment Corporation (RIC) is a Federal Government-backed specialist finance provider for farmers and farm-related small businesses. For the 2020-21 financial year the RIC has approved more than 1,980 total loans valued at over $2.1 billion. Since its inception on 1 July 2018, the RIC has approved more than 2,770 total loans valued at over $3 billion as at 30 June 2021.