Hardie Appoints American
James Hardie, the Australian company known for its asbestos-related troubles, has hired American Don DeFosset as its new chairman. Former chair Meredith Hellicar and two other directors quit six weeks ago after the corporate regulator filed a damages suit against them. DeFosset was unavailable for comment.
When DeFosset made his first showing at Hardie's shareholder information meeting in February, he said he was familiar with the issue of asbestos claims. DeFosset used to head Walter Industries, a home-building company, until the company was forced to declare bankruptcy as a result of asbestos suits. Don McGauchie will retain his position as Hardie's deputy chair and the only Australian on Hardie's board.
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