Cardno Limited announced several changes to the composition of the company's Board of Directors, effective 27 January. Two new independent non-executive directors, Steven Sherman and Jeffrey Forbes, joined the Board and, as announced in October 2015, Chairman John Marlay and non-executive directors Tony Barnes and Tonianne Dwyer stepped down from their positions. The Board intends to appoint a further two independent non-executive directors in the coming months.

To ensure that the Board continues to be constituted with a majority of independent directors, Nathanial Thomson also agreed to resign as a director. The Board has elected Michael Alscher as the new Chairman of Cardno. Steven Sherman is Managing Partner at Ferrier Hodgson in Sydney.

He is a Chartered Accountant with more than 30 years' experience in corporate restructuring and insolvency. His experience ranges from advising on and facilitating restructuring and turnaround strategies, to the re-engineering of entire businesses. Jeffrey Forbes is an experienced Finance Executive and Company Director with over 30 years' merger & acquisition, equity and capital markets and project development experience.

He previously worked at Cardno as CFO and Company Secretary before retiring in 2012 to build a role as a non-executive director. He is currently a non-executive director of PWR Holdings and CMI Limited.