New lease on life for brother Stan: [1 Edition]
Richard Gluyas, Samantha Magnusson, John Stapleton. The Australian [Canberra, A.C.T] 30 Oct 2001: 1.
Abstract
STAN Howard is again a beneficiary of federal government policy with the announcement by his brother yesterday that he would legislate to remove upper age limits on public company directors.
Early last year, Mr Howard was forced to defend a $6million government bailout of workers at National Textiles, a company chaired by Stan.
Opposition financial services and regulation spokesman Stephen Conroy said Labor supported the change. "But we can't help but note that Stan Howard is in his 70s," he said.
STAN Howard is again a beneficiary of federal government policy with the announcement by his brother yesterday that he would legislate to remove upper age limits on public company directors.
John Howard told the National Seniors Association the Corporations Act requirement for directors to put themselves up for re-election each year once they reached 72 was an "unwarranted discrimination against older Australians".
The Prime Minister's older brother, who is chairman of Sydney tollway operator Hills Motorway, turned 71 last July.
When asked if the PM's announcement had anything to do with Stan Howard, a spokesman for the Prime Minister said the proposition was "ridiculous" and would not be "dignified with a response".
Early last year, Mr Howard was forced to defend a $6million government bailout of workers at National Textiles, a company chaired by Stan.
"I have never sought in any way to favour any member of my family as far as the decisions of the Government are concerned," he said.
Stan Howard had no comment to make on the matter yesterday. "Can't you find something else better to do? I don't want to make any comment to you about anything," he said.
Opposition financial services and regulation spokesman Stephen Conroy said Labor supported the change. "But we can't help but note that Stan Howard is in his 70s," he said.
Australian Institute of Company Directors chief executive John Hall said the institute had been lobbying to remove age restrictions for company directors since May, 1997.
Australian Shareholder Association executive director Tony McLean said the issue was a "bit of a non-event", but he did not agree with age restrictions.
Ted Harris, 74 and joint chairman of property investor Thakral Holdings, said a mix of experience was important. "I don't think it should have been there in the first place because it's discriminatory," Mr Harris said.
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