By James Atkinson
Lion today announced long-standing chairman Geoff Ricketts will stand down in March.
He will be succeeded by Sir Rod Eddington, who is currently a non-executive director.
Eddington, a former CEO of Cathay Pacific Airways, executive chairman of Ansett and CEO of British Airways, was awarded a Knighthood by the British Government in 2005 for services to civil aviation.
He holds other directorships with companies including News Corporation and JP Morgan Chase Bank.
Lion said that to ensure a smooth transition, Ricketts will continue to serve on the board until the end of 2012.
Paula Dwyer, a former director of Foster's Group who is currently chair of Tabcorp, will also join the Lion board in April as non-executive director.
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Sir Rod Eddington said Ricketts has been a valued member of the Lion business over the years and he will long be remembered for his contribution to the company.
"I am also pleased to welcome Paula Dwyer to our board. Paula is one of Australia's leading non-executive directors and brings a wide perspective from a number of different industry sectors."