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Wool Stocktake : AWI Annual Report 2017-18
DR MEREDITH L SHEIL MBBS FRACP PhD GAICD Experience and expertise: Dr Sheil, a commercial woolgrower, is a Medical and Veterinary Research Scientist, Paediatrician and a founding director of Bio-medical Research and Development company Medical Ethics Pty Ltd. The company is responsible for inventing/developing a wound anaesthetic for lambs and calves for pain relief following husbandry procedures, and is currently pioneering research and development of similar practical and affordable pain relief medications for livestock, companion animals and humans. Dr Sheil has served as a local government councillor, Deputy Mayor and a member of the board of NSROC (North Shore Regional Organisation of Councils). She is a Graduate of The Australian Institute of Company Directors. Special responsibilities: Science & Welfare Committee member. MR DAVID A A 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. Jim Story was appointed as company secretary in 2012. Jim is a company secretary and corporate lawyer with more than 38 years of experience. He has extensive public company experience, having held senior in-house positions, mostly as legal counsel and company secretary, with a range of publicly listed industrial, mining and mining exploration companies. THE BOARD OF AWI 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 60. The Board has several committees that monitor and guide specific activities. These committees assist the Board to effectively implement, monitor and enforce appropriate corporate governance throughout the Company. 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. The Board Nomination Committee will next be scheduled to convene in 2019 as a precursor to the election of directors at the 2019 AGM. 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 2016-17