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Wool Stocktake : AWI Annual Report 2013-14
The Board continued to meet regularly during 2013/14. The AWI Board sets the Company's strategic direction and delegates responsibility for day-to-day management to the Chief Executive Officer (CEO). The Board is committed to governance systems that enhance performance and ensure AWI operates according to accountability provisions required by various Acts, Regulations and Guidelines. A report on corporate governance is on page 52. The Board has established a number of committees that monitor and guide specific activities. These committees assist the Board to effectively implement, monitor and enforce appropriate corporate governance throughout the Company. There are currently three Board subcommittees and a Board Nomination Committee: Chaired by David Webster Directors appointed by the Board provide guidance and recommendations to the Board and to the CEO to assist in fulfilling their responsibilities relating to risk, accounting, reporting and compliance practices of the Company. The Finance & Audit Committee meets periodically to address all matters within its charter. Chaired by Colette Garnsey This Committee provides guidance and recommendations to the Board and the CEO in matters pertaining to recruitment and retention of employees and policies governing remuneration for current and potential employees. The Remuneration & Appointments Committee meets periodically to address all matters within its charter. Chaired by Meredith Sheil (appointed 13 January 2014) This Committee was established to provide guidance and recommendations to the Board and CEO regarding the scientific and research policies of the Company and on the conduct of programs relating to activities undertaken by the Company that utilise science or impact animal welfare activities. The Science & Welfare Committee meets periodically to address all matters within its charter. Chaired by Jock Laurie Established to assess the skills of those seeking election to the Board of AWI, the five-member Committee was introduced in 2011 in accordance with AWI's 2010-2013 Statutory Funding Agreement with the Australian Government. It convenes in each Directors' election year. The Committee members comprise three external members and two AWI Board members. The Chair is one of the external members. In 2013, the members of the Board Nomination Committee were: Mr Jock Laurie, former President of the National Farmers' Federation; Mr Ian Armstrong, former Deputy Premier of NSW and former leader of the National Party in NSW; Mr Will Wilson, independent investor relations adviser; AWI Chairman Mr Wal Merriman; and AWI Director Mr Roger Fletcher (who has since retired from the AWI Board). The objectives and responsibilities of the Board sub- committees are set out in the Charter of the Committees of the Board' and the objectives and responsibilities of the Board Nomination Committee are set out in the Board Nomination Committee Charter'. Both of these documents are available on the AWI website www.wool.com. The Directors' Report is on page 61. UP FRONT
AWI Annual Report 2014-15
AWI Annual Report 2012-13