Fairfax brings in three new directors

Sandra McPhee, a director of AGL Energy, the recently listed Kathmandu Holdings and Tourism Australia, will be based in Sydney.

Sam Morgan, the founder and former chief executive of New Zealand's largest online transaction site, TradeMe - which Fairfax bought in March 2006 - will be based in NZ and bring valuable digital media experience.

The third appointment is Linda Nicholls AO, currently chairwoman of Healthscope and a director of Sigma Pharmaceutical Group and Insurance Manufacturers Australia.

The chairman of Fairfax Media, Roger Corbett, said he expected to make another board appointment in the coming months to bring the number of directors to nine. The three new directors replace Julia King, David Evans and former chairman Ron Walker.

The announcement was made at 5pm after the markets were closed so no reaction could be sought from analysts.

In a statement Mr Corbett said: "The high calibre, experience and skill sets of our new directors collectively represent an invaluable addition to the board of Fairfax Media ... the board is very well positioned to meet the challenges and opportunities of our industry."

Earlier this week Fairfax - publisher of the Herald - surged to a first-half profit of $149 million from a loss of $365 million for the previous corresponding period on the back of a resurgent advertising market.