Home / Knowledge / News / Textiles / AWI AGM: getting on with the business of selling wool
AWI AGM: getting on with the business of selling wool
27
Nov '09
Australian Wool Innovation shareholders re-elected three board members – Wal Merriman, Roger Fletcher and Chick Olsson – and voted to change the process of annual director elections.All three directors had retired by rotation in accordance with the Company's Constitution.

The vote in favour of changing the Constitution means board elections will now take place every two years.

In his address to shareholders, AWI Chairman Wal Merriman outlined the significant changes the organisation had made in the last 12 months.

'There has been a major overhaul of the AWI business and we are now a leaner company, run in a cost-conscious and business-like manner.

'We have closely examined and changed many processes within the company to become a more efficient, accountable and performance-based organisation with reduced overhead costs,' he said.

Mr Merriman also reiterated his appreciation to levy payers for their support in WoolPoll 2009.

'The vote for 2 per cent says to me that growers have confidence in the wool's future and in the ability of a reengineered AWI to make a difference and generate shareholder returns.'

He also thanked the board, CEO Brenda McGahan and the staff at AWI for their tireless efforts and loyalty to the company.

'It has been a difficult year with redundancies and downsizing, and it is a tribute to Brenda McGahan and her team for the way they have performed over the last 12 months.'

Ms McGahan told shareholders that $25 million is the budgeted cut in costs in the last 12 months to fund the company's new marketing and sales programs.

'Our marketing is focused on wool products that are available in retail stores; products that consumers can actually go into a store and buy.

'We also insist that the grower funds we invest in a marketing campaign are, at the very least, matched by our marketing partners' own financial contribution.

'Our job is to get the world talking about wool again, and to create a preference for quality wool products – certified by the world famous Woolmark brand – products for which consumers are willing to pay a premium.

'You have my commitment and my team's to help reignite global demand for this wonderful fibre and rebuild confidence in the long term viability of Australia's wool industry,' Ms McGahan said.

Australian Wool Innovation Limited


Must ReadView All

Luis Quijano

Textiles | On 17th Jul 2018

US varsity student cultivates bacterial cellulose in lab

Luis Quijano, a student at the Liberty University in Lynchburg,...

APTMA decries duties on cotton imports in Pakistan

Textiles | On 17th Jul 2018

APTMA decries duties on cotton imports in Pakistan

The All Pakistan Textile Mills Association has termed the...

India world's 6th-largest economy, beats France

Textiles | On 17th Jul 2018

India world's 6th-largest economy, beats France

India, with a gross domestic product (GDP) of $2.597 trillion last...

Interviews View All

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Urmil Arya

Sushila International, a well established textile organisation established ...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search