Candidates for election are nominated by an industry Selection Committee comprising representatives from the two Group B members. In addition, Group A members are able to lodge nominations for Board positions. Newly elected Directors undergo an induction program relevant to their experience in which they are given a full briefing on the Company and its activities in order to familiarise the Director with the Company’s operations, strategy and issues. The induction program includes meetings with the Managing Director, senior management and the Company Secretary. BOARD MEETINGS The Board met 13 times during the year. Some Board meetings are held in regional areas to enable the Board to meet with local industry representatives and visit sites where Dairy Australia activities are being undertaken. Prior to Board meetings, management provides Directors with Board papers that are complete, accurate and sufficient to enable sound decision-making on issues under consideration at the meeting. In addition members of the Company’s Executive Leadership Team and other members of management present in person to the Board as required. BOARD PERFORMANCE Under the Board Charter, each year the Board conducts a review to evaluate its performance and identify areas for improvement. DELEGATION TO MANAGEMENT The Board has delegated to management responsibility for: o Strategy development and implementation; o Financial performance; and o Operational activities. While these matters have been delegated to management, the Board receives comprehensive management reports at each Board meeting together with specific reporting on any irregularities. The Company has in place a formal document setting out financial delegations to management and staff. BOARD COMMITTEES The Board has established two standing committees to assist the Board in discharging its responsibilities – the Audit and Risk Management Committee and the Human Resources Committee. Each committee has a formal charter setting out its role and responsibilities, copies of which are available on the Dairy Australia website. Committee members are appointed at the first Board meeting of each calendar year and are selected for the skills, experience and qualities they bring to the Committees. The Chair of each committee provides a verbal report of committee meetings at the next Board meeting. All committee minutes are tabled at Board meetings.
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