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

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X