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Wool Stocktake : AWI Annual Report 2015-16
Mr Morgan has a strong faith in the industry and in wool’s natural ability to offer the world’s textile and industrial producers a raw material which is both cost effective and eco-friendly. Special responsibilities: Chair, Science & Welfare Committee Finance & Audit Committee member. DR MEREDITH L SHEIL MBBS FRACP PhD GAICD Experience and expertise: Dr Sheil is a specialist Paediatrician, Medical and Veterinary Research Scientist, Honorary Associate of the Sydney University Veterinary School, and a Commercial Woolgrower. Dr Sheil is a founding director of Medical and Animal Ethics R&D, responsible for inventing / developing a wound anaesthetic for lambs undergoing mulesing and is currently pursuing research into the development of similar practical and affordable pain relief medications for livestock, companion animals and humans. Dr Sheil is a local government councillor, member of the board of NSROC (North Shore Regional Organisation of Councils) and a Graduate of The Australian Institute of Company Directors. MRDAVIDAA WEBSTER Experience and expertise: Mr Webster has spent his working life putting together a wool growing, livestock and cropping enterprise. A keen student of economics, he is a strong advocate of private enterprise commerciality and competition. He advocates upholding the rights of farmers without undue regulation and impediments to running their businesses. Mr Webster places a high priority on giving value to shareholders, particularly for compulsory levy payers. Mr Webster is Chairman of iron ore resources company Athena Resources Limited. He is also a Director of Australian Wool Testing Authority Ltd. Special responsibilities: Chair, Finance & Audit Committee Remuneration & Appointments Committee member Science & Welfare Committee member. COMPANY SECRETARY The Company Secretary is Mr Jim Story BA, LLB, FGIA. THE BOARD OF AWI The Board continued to meet regularly during 2015/16 in accordance with its schedule of meetings. 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 50. The Board has 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 sub- committees and a Board Nomination Committee: Finance & Audit Committee Chaired by David Webster Directors are 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. Remuneration & Appointments Committee 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. Science & Welfare Committee Chaired by James Morgan 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. Board Nomination Committee 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 Statutory Funding Agreement with the Australian Government. It convenes in each Director’s election year. The Committee members comprise three external members and two AWI Board members. The Chair is one of the external members. For 2015, the members of the Board Nomination Committee were: Mr Ian Armstrong, former Deputy Premier of NSW and former leader of the National Party in NSW (Committee chair in 2015); Mr Will Wilson, independent investor relations adviser; Mr Rob Ashby, past President of the World Federation of Merino Breeders, and Member of the Order of Australia; and AWI Directors Colette Garnsey and Brian van Rooyen (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. UP FRONT 7
AWI Annual Report 2014-15
AWI Annual Report 2016-17