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Wool Stocktake : AWI Annual Report 2012-13
The Board continued to meet regularly during 2012/13. 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 37. 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 sub- committees 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 (appointed 21 November 2012) 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 George Falkiner 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. The Committee members for 2013 comprise three external members and two AWI Board members: Mr Jock Laurie, former President of the National Farmers' Federation; Mr Ian Armstrong (former Deputy Premier of NSW & former leader National Party in NSW); Mr Will Wilson, independent investor relations adviser, together with AWI Chairman Mr Wal Merriman and AWI Deputy Chairman Mr Roger Fletcher. 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 and from the AWI Helpline on 1800 070 099. The Directors' Report is on page 45. UP FRONT
AWI Annual Report 2013-14
AWI Annual Report 2011-12