Hofbauer and Andersen intend to resign by the end of fiscal 2009 or at an earlier date as agreed with the chairman of the BBW Boards.
Babcock & Brown Chairman, Graham Kelly stated that the BBW Boards intend to appoint another director to the BBW Boards with relevant skills and experience in the near future.
Kelly said, Each of Warren, Peter and Nils have been instrumental in the establishment of BBW and its market leading position, particularly in Australia. Warren, Peter and Nils will leave the business in excellent financial health, and owning and operating a portfolio of high quality wind farms. On behalf of my fellow Directors, I thank Warren, Peter and Nils for their tireless efforts in support of the business.
