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 19th Aug 2017

New fabric interfaces to interact with computers

As computer capabilities evolve, new fabric-based interfaces are...

Textiles | On 19th Aug 2017

Brazilian cotton prices drop in first fortnight of August

Cotton prices dropped in the Brazilian market in the first fortnight...

Apparel/Garments | On 19th Aug 2017

Target to acquire Grand Junction for faster deliveries

Target Corporation has announced that it has agreed to acquire Grand...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Karan Arora
Karan Arora

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

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

August 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


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