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StumbleuponFederal Treasurer Peter Costello has appointed Alinta Ltd Chairman John Akehurst to the board of the Reserve Bank of Australia (RBA) for a five-year term.
Mr Akehurst, who is also deputy chairman of Coogee Resources Ltd, will fill the vacant position on the board left by Hugh Morgan on July 28, 2007.
Mr Costello said in a statement that Mr Akehurst joined the board with over 30 years experience in the oil and gas industry, where from 1996 to 2003 he was managing director of Woodside Petroleum Ltd.
Mr Akehurst is one of nine board members, including the governor, the deputy governor, and the secretary to the department of the treasury.
"I am confident that Mr Akehurst will contribute to the ongoing sound conduct of monetary policy, which has helped to deliver an unprecedented period of economic growth, coupled with low inflation and falling unemployment," Mr Costello said.
Mr Costello also thanked outgoing board member Mr Morgan for his "valuable and extensive service" to the board.
Mr Morgan served as a board member from July 1981 until June 1984, and again from August 1996.
"Australia is indebted to Mr Morgan for his contribution to public service," the treasurer said.
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