Business Council of Australia President Grant King has announced the new appointment of Tim Reed of MYOB and Joanne Farrell of Rio Tinto to fill two vacancies on the Business Council Board.

Mr King, who announced the appointments to Business Council members last night, also announced that Peter Coleman of Woodside Energy would join the Board on 23 November when Richard Goyder, who is retiring from Wesfarmers, steps down.

The Business Council Board oversees the work of the organisation’s secretariat and committees, makes recommendations regarding membership and appointments, identifies and clarifies policy issues, and proposes the Business Council’s policy agenda.

Mr King said: “The Business Council’s Board is going from strength to strength and I look forward to drawing on the wealth of experience and business leadership that Joanne, Peter and Tim bring to the table.

“These appointments reflect the diversity of our membership across key sectors of the economy. Tim Reed brings particular expertise in the technology sector and working with small business.

"The resources sector is one of the pillars of the economy and Joanne Farrell's experience at both RioTinto and BHP will make her a strong addition to the Board.

“Peter Coleman will be a welcome voice for businesses based in Western Australia, and the hydrocarbon industry.

“We will continue to develop and advocate economic reforms that drive a more innovative and competitive economy. We want Australia to be the best place to create more jobs, better jobs and higher incomes.  

Mr King thanked Mr Goyder for his contributions to the Business Council over many years.

“Despite being one of our country’s busiest people, Richard has always found time to contribute to the nation’s most pressing economic policy debates,” Mr King said.

“I’ve benefited enormously from his wise counsel over the years, as have the rest of the Business Council’s membership.”

Tim Reed became Chief Executive Officer of MYOB in 2008 after five years as the company’s Managing Director and Group Product Executive. He previously worked in Silicon Valley where he held senior management roles in sales, marketing, product management and business development in fast-paced technology markets.

Joanne Farrell has been Managing Director Australia of Rio Tinto and Group Executive, Health, Safety and Environment, since 2016. Ms Farrell, has held a variety of leadership roles in human resources, training, communications, health, safety, environment, government and community relations.

Peter Coleman has been Managing Director and Chief Executive Officer of Woodside Energy Limited since joining the company in 2011. Mr Coleman is also the Chairman of the Australia-Korea Foundation, Chairman of the Advisory Group for Australia Africa Relations and advisor to the Asia Society.

The board appointments are expected to be ratified at the upcoming Annual General Meeting in November.