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Industry supports AWI Board Nomination Committee
20
May '11
A Board Nomination Committee has been appointed to assess the skills of those seeking election to the Board of Australian Wool Innovation in 2011.

The five-member Committee is part of a new process put in place under AWI's 2010 - 2013 Statutory Funding Agreement (SFA) with Federal Government and will comprise three external members and two AWI Board members.

The Committee members include:

Mr Colin Bell, Executive Chairman of Bell Financial Group Ltd
Mr Jock Laurie, President of the National Farmers Federation
Mr Will Wilson, General Manager Sales & Marketing, Australian Securities Exchange

Joining these external members will be the current Board Chairman, Mr Wal Merriman, and Deputy Chairman, Mr Roger Fletcher.

Each member of the Committee has been appointed in accordance with the Board Nomination Committee Charter.

The Board Nomination Committee will consider the CVs of candidates nominated to be elected or re-elected to the office of Director and will make a recommendation to shareholders as to those candidates who will, in its view, best ensure that the Board collectively has an appropriate balance of skills and experience in the areas set out in the definition of “Skills Based Board” in the SFA.

The SFA sets out the following collective expertise as the definition of “Skills Based Board”:

• Corporate governance
• Wool growing
• Wool processing
• Product promotion and retail marketing
• Domestic and international market development and international trade
• R&D, technology, technology transfer, commercialisation and adoption of R&D and innovation
• Conservation and management of natural resources
• Administration of research and development; and
• Finance and business management.

The introduction of the Board Nomination Committee does not require any change to the AWI Constitution (the SFA expressly acknowledges this). An individual can still be considered as a candidate for the AWI Board by obtaining 100 signatures under the terms of the AWI Constitution.

The Board Nomination Committee will make an assessment of every validly nominated candidate based on the collective skills required by the AWI Board (as defined in the SFA) and the skills of those current Directors not standing for election.

Wool industry representatives attending the Industry Consultative Committee (ICC) were fully informed of the role of the Board Nomination Committee at the March ICC meeting.

The introduction of the Board Nomination Committee has required amendment of the “Rules and Procedures Governing the Election of Directors” and the forms to be completed by nominated candidates.

Australian Wool Innovation Limited

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