Having reviewed the statement prepared by the ASX 200 Boards in relation to Director capability, incorporating skills and experience, we have noted indicatively two approaches.
Governance and Pay: Ministers and Board Chairmen
With comments from proxy advisers, major institutional investors and shareholder activists questioning Directors’ (particularly Chairmen’s) capacity, to serve on more than three or four Boards for which they will often receive more than $1 million in annual fees, the community should not be aggrieved with the level of reward paid to our Prime Minister, our Premiers or our Ministers.
Our Leaders’ Challenges and Stakeholder Expectations – A View Point
Australia is facing new challenges and opportunities within the shifting patterns of international trade and the security of its commercial foothold and viability both locally and globally.
BEAR Regime Continues to Raise Concerns in Financial Services Sector
The Banking Executive Accountability Regime (BEAR) has made banks and businesses cautious and concerned. Banks have echoed a warning that BEAR threatens the clarity of roles between APRA and ASIC, and also creates potential upheaval with insurance and superannuation funds, as BEAR could be broadly applied to such organisations.