Committees and Charters
As a key component of the Company’s corporate governance regime the Board has established the following Sub-committees:
- Nomination Committee – the role of the nomination committee is to ensure the Board comprises suitably qualified and experienced individuals to act as Directors. The committee does so through its review of the composition of the Board and the tenure of the Directors. This committee will also conduct annual assessments of the performance of individual Directors.
- Audit and Risk Committee – the Audit and Risk Committee is responsible for monitoring the current and emerging risks affecting the Company and overseeing the risk mitigation activities. In fulfilling its responsibilities the committee provides advice on the integrity of the Company's financial reporting process and financial statements, the Company's compliance with legal and regulatory requirements, the independence of effectiveness of external auditors and the effective maintenance of internal controls.
- The Remuneration Committee – the Remuneration Committee is responsible for setting and overseeing the application of the Company's remuneration structure and policy. In performing this role the committee reviews the performance and remuneration of staff and assesses whether appropriate incentives are provided for management and employees.
The table below summarizes the composition of the Board committees and the status of each director:
| Director |
Date Appointed |
Executive/ non-executive (NE) |
Indep’t Director |
Audit and Risk |
Remuneration Committee |
Nomination Committee |
| Mel Bridges |
September 1999 |
NE - Chair |
No |
Member |
Member |
Chair |
| Greg Brown |
December 2001 |
Executive |
No |
|
|
|
| Martin Kriewaldt |
March 2005 |
NE |
Yes |
Member |
Chair |
Member |
| Cherrell Hirst |
August 2005 |
NE |
Yes |
Member |
Member |
Member |
| Jim Hazel |
November 2006 |
NE |
Yes |
Chair |
Member |
Member |
| Michael Panaccio |
January 2007 |
NE |
No |
Member |
Member |
Member |
