Spring 2013 - Australian Institute of Company Directors

WAdirector
Issue 46 | SPRING 2013
companydirectors.com.au
INSIDE
David Morgan GAICD and
Fiona Morgan GAICD
Michael Crevola GAICD
and Bronwyn Barnes GAICD
Nicole Fernandes GAICD
and Leon McIvor GAICD
2
State managers corner
3
Managing change – it’s about
teaching people to fish for themselves
4
International perspectives on the
future of the board
5
Indigenous Governance Program
in the Pilbara
6
Company Directors Course Graduates
7
Improving productivity
8
Director profile:
Hon Cheryl Edwardes MAICD
9
Director profile: Clinton Bradbury GAICD
10 The Future Series: The Board in 2020
10 Emerging director hypothetical –
the new chair
Lorna Rechichi GAICD, Dominic Manganaro
GAICD and Daniel Hutchins GAICD
Brett Hazeldon GAICD, Ian Singleton GAICD,
Barry Knight GAICD and James Williams GAICD
11 The Directors’ Cut Lunch:
Property Sector
11 Chairman’s Roundtable Lunch:
Family Business
12 The lifecycle of a mining/oil
and gas board
13 Mining Rehabilitation Fund:
should you opt-in early?
14 Regional update
Chris Mallios GAICD and
Brian O'Keefe GAICD
Lana Snook GAICD and Diedre
Timms GAICD
New members and Graduates
network together
Acknowledging our graduates
Three times a year the WA Division of the
Institute of Company Directors congratulate
our members that have graduated from the
Company Directors Course with an evening
cocktail event called Direct Connect.
This year the events have been supported
by our corporate partners Crowe Horwath,
PwC and The University of Western Australia.
Direct Connect events are a wonderful
opportunity to recognise the hard work
and effort our members have put into their
professional development.
Each participant is required to complete
1,300 pages of pre-reading before attending
ten highly intensive facilitated sessions.
They then complete an exam and submit
a 3,000 word assignment. All this while
managing their busy work and family lives.
In recent years, the demand for the course
has increased dramatically. This year the WA
Division will deliver 21 courses, which will be
attended by over 520 members.
As a new innovation, we will also be
running two sector specific Company
Directors Courses. In November we will
deliver a Company Directors Course for
ASX 300 directors/executives, followed by
a course for Indigenous Business Leaders
in December.
Dates and details for these courses, plus
our 2014 schedule are now online, please
visit our website for further information.
15 Share your war stories to
plan for the future
15 Good governance principles for
not-for-profit organisations
16 Five minutes with WA’s newly
appointed State President –
Gene Tilbrook FAICD
17 Congratulations longstanding members
19 Welcome new staff
19 Thank you to our corporate partners
20 2013 Diary dates
NEWSLETTER SPONSORED BY
Contact us: WA Division, PO Box 7050 Cloisters Square WA 6850 t: 08 9320 1700 f: 08 9320 1722 e: [email protected]
1
WAdirector | SPRING 2013
STATE MANAGER’S CORNER
Consulting | Solutions | Managed Services
Suzanne Ardagh MAICD
WA and International Division Manager
Australian Institute of Company Directors
I am very pleased to announce that WA Division President Gene
Tilbrook was re-elected, uncontested recently for the WA Council.
For those who don’t know Gene, you can read more about him in our
“Five Minutes with the Divisional President” in this Spring edition
of WA Director. I am also pleased to welcome new Council member,
David Craig. Amongst many roles, David is the Chairman of Forge
Group and has already taken on some tasks of being a Councillor and
provided us with an article on “The Lifecycle of a Mining Board”.
This was one of the more popular “West End” briefings which gave
members who were not from a mining- exposed company, the
opportunity to understand the challenges for Directors on these
boards as their companies go through the cycles.
As you’d be aware, we continue to lead the way in indigenous
governance training and development within Company Directors and
in this edition, our Board and Corporate Services Executive, Kristen
Chiera offers an insight into a training program with the KM Group.
I was privelidged recently to spend two days with another group
Wintawari Guruma Aboriginal Corporation in Karratha and we are
seeing a really strong response from these communities and boards
throughout WA for more training and development.
We’ve just announced our 2013 Outback Forum which is supported
by BHP Billiton and are chartering a jet to Port Hedland for a
behind-the-scenes visit to the facilities and port, and finishing with a
Sundowner with the local community. It’s one not to miss, so do make
sure that if you want to join this annual trip, you book early.
Also I’d encourage you to consider end of year festivities and our
annual Christmas Lunch where highly regarded “Ad man” Harold
Mitchell will join to regal us with some stories from this extensive
career in the advertising industry, so we are looking forward to that
one and hope that you will join us then to wrap up the year.
That’s all for now!
Bye
Suzanne.
10 Countries, 14 Offices, 800+ Staff
In Australia: Perth, Sydney, Melbourne, Brisbane, Adelaide,
Canberra
Executive Chairman: Frank Early – 08 9322 2808
1 Howard Street Perth WA 6000
www.birchman.com.au
WA COUNCIL
President
Gene Tilbrook FAICD
Craig Readhead FAICD
Councillors
Rick Crabb FAICD
Kellie Benda FAICD
Alison Gaines FAICD
David Flanagan FAICD
Gaye McMath FAICD
David Craig MAICD
Steve Scudamore FAICD
Shirley Int’Veld MAICD
WA OFFICE
Suzanne Ardagh MAICD
State Manager
Karen Spencer
Events and Sponsorship Executive
Deon Jacobs
Member Relations Executive
Courtney Blechynden
Events Coordinator
Jason Liew
Member Relations Executive
Kristen Chiera
Education and Board Services Executive
Stuart Munro
Member Relations Executive
Lauren Jackson
Personal Assistant
and Office Administrator
Erin Timu
Education Manager
Jacqueline Pace
Education Executive
Wendy Dickason
Administration Assistant
WA Division, Mezzanine Level, 190 St Georges Terrace, Perth WA 6000
PO Box 7050 Cloisters Square WA 6850
t: 08 9320 1700 f: 08 9320 1722 e: [email protected]
Newsletter written by: WA State Office. Editor: Karen Spencer.
For more information or to submit content to us, details above.
Disclaimer: The opinions expressed in WA Director do not necessarily represent the views of the Australian
Institute of Company Directors nor the publication. While every effort has been made to ensure accuracy, no
responsibility can be accepted by the publisher for omissions, typographical or printer’s errors, inaccuracies
or changes that may have taken place after the publication. All rights reserved.
2
Managing change – it’s about teaching
people to fish for themselves
Ben Roestenburg
Birchman Group
It is a strange world we live in.
Despite advances in technologies,
sophisticated business
processes, e-commerce tools
and proven project management
techniques, the 'nature' of
human nature remains elusive
and unpredictable, particularly
during periods of change. Often
overlooked, is the people the
change ultimately affects. Many a
project manager has walked away
having 'delivered' a project with
precision, only to discover six
months later that their good work
has been undone and people
have reverted to old practices.
The time-old saying is “you can
lead a horse to water, but you
can’t make it drink.”
The human element
Human beings are both rational
and emotional. While most
elements of a project may be
planned, estimated and managed,
it is often difficult to predict how
the people involved will react
and behave. People have an
inbuilt attitude towards change,
a way of perceiving change, and
means of supporting or resisting
change. That is, we are complexadaptive beings, made more
complex when part of a group
and more complex again when
part of an organisation.
Managing uncertainty
So how does one plan, estimate
and manage something as
complex as human behaviour
during times of change?
Traditional change management
tools focus around preparation,
managing perception, support
and engagement. A fair amount
of up-front planning and
information gathering is required
to identify who the potential
stakeholders are.
As the scope of the project is
defined, the high level impacts
to those stakeholders are
estimated. As the project ramps
up, that impact is qualified
and quantified. As a project
approaches implementation, the
mitigating strategies for each
change, risk or barrier is applied.
During implementation, direct
and indirect support is provided
to assist people through the
change. After implementation, the
review process begins to ascertain
whether the project delivered on
its objectives, and provided the
intended business benefits.
Adaptation
While proven and robust
methodologies exist, the
approach itself has to be open
to adaptation, in reflection of
stakeholder needs. Our best laid
plans are often the result of what
is known at the start of a project,
however, as the project progresses
things can change. We often
don't know what we don't know
and new change management
challenges inevitably arise.
Three-way
communication
Firstly communicating outwardly
with stakeholders requires a
thorough understanding of what
is important, what is sensitive,
and what needs to be said. Here
messages from the 'source' are
adapted or customised to suit
the audience. Secondly there
is inbound communication
from stakeholders which has
its distinct characteristics
dependent upon the source.
Inbound communication is often
overlooked, and can be complex
in exposing the underlying or
embedded messages. Finally there
are the omniscient perceptions
that stakeholders form. It is
often these perceptions that
shape judgement, attitudes and
behaviours. They are 'unspoken',
rarely communicated and may
manifest as passive resistance
by stakeholders.
Leadership
At the organisational level, the
success of change is often directly
proportional to the degree of
leadership support that it receives.
At this level, the primary role
of change management is to
identify the sponsoring group or
individual, and support them in
leading change, and help them
maintain momentum. Actively
engaging the relevant leaders,
ensuring that they are seen and
involved where possible will
greatly affect the successful
outcome. Practically we find these
days that the 'leaders' assigned
to a project in hierarchical sense
do not allow (or have) sufficient
time to provide the desired
level of direction and support.
Complicating this constraint is
the value that stakeholders place
on 'walking the talk' as opposed
to just talk. This means that the
oratory masterpiece delivered by
leaders at the start and end of a
project is not nearly as valuable
as consistent visibility over the
duration of the project.
Fishing lessons
At the end of the day, change
management revolves around
the concept of stewardship.
Sustaining the change in the
long term is not about making
the 'horse drink' so to speak,
but about teaching people to fish
for themselves, enrolling them
as business change managers so
that they may sustain change
in the long term. Traditionally,
training and development
are perceived as the main
learning intervention during a
change program. A new system
or process is implemented,
stakeholders are taught to use
said system or process, and
the intervention is complete.
However, there are all kinds of
learning, some more important
in the long term than others.
Managing change, like fishing,
takes patience, an understanding
of tides and currents, and the
ability to change tact if things
are not working.
Wrap up
A good change manager is not
the sum of the tools that they
can apply. They are able to teach,
listen to, learn from and empathise
with all stakeholders. They are
comfortable with change itself,
adapting where necessary and
able to deal with uncertainty. They
are not myopic in their application
of tools, and are pragmatic where
possible. At its core it is about
helping people and organisations
become adept at managing change
for themselves.
For more information, please
contact Ben Roestenburg
ben.roestenburg@
birchmangroup.com
3
WAdirector | SPRING 2013
International perspectives on the
future of the board
Alison Gaines FAICD
Gerard Daniels
Member since 2002
As a recent graduate of the
INSEAD International Directors
Program and an INSEAD Certified
Director 2013 and as part of my
research for the WA Division
of the Institute of Company
Directors, I recently sought the
ideas of my classmates and faculty
from around the world about the
future of boards.
Below is a summation of their
opinions and foresight and my
view of global governance trends.
As a starting principle, it seemed
clear from my research that
boards will not be the same and
that passive supervisory boards
will no longer be sufficient to
mediate between the expectations
of shareholders (and stakeholders)
and managers.
So what will change?
Substantive challenges
The macro operating environment
for companies is changing. For
example, all of us must adjust
to the disruption of technology.
Many companies will give
attention to protecting long-term
shareholder value from mounting
risks of climate change. Patterns
of markets (capital, resources,
labor, information, knowledge,
consumers) are changing –
companies must adapt to a
post-growth developed world as
its share of world GDP diminishes.
Shareholders and proxy advisers
will apply their own risk appetite
to shape companies. Corporate
governance is converging –
examples being independent chairs
and independent directors; ‘say
on pay’; boardroom diversity – in
many jurisdictions. But there is
enough divergence that directors
operating across different countries
must adjust their expectations of
compliance and corporate culture.
The board’s purpose
Boards will be more engaged,
firstly as a partner in strategy-
setting and strategic risk
evaluation. Boards will be more
assertive about understanding
the milieu of the company, its
competitiveness and determining
strategy differentiation.
Strategic risk will form a
substantive conversation in
boardrooms. Boards will know
how to recognise failure and
opportunities, because of the way
they engage with the company.
Board processes
Boards will be better informed.
They will closely monitor and
guide strategy execution and
performance. They will be better
at evaluating the performance
of CEO’s and executives; and
determining succession options
for the company. Board papers
will assist reduce the asymmetry
between board and management
about the context for the
business, strategic options,
risks, execution and failure and
success. Board papers will be
better decision-making tools for
boards. Boards will spend more
time knowing the business and
markets, outside formal meetings.
Board independence
Boards will assert their role in big
decision-making. Independentthinking and critical- thinking
will be valued. Independence will
be judged on a range of criteria
– separation from management
and ownership, merit (not mateship) based appointment, not
“representative” appointees,
transparent appointment process
and no conflicts of interest.
Board composition
Increasingly boards will govern
companies that operate across
geographies, are multicultural
workplaces and engage in
many markets. Consequently
the boardroom will be a place
of diversity – of skills, gender,
culture, age, geography, markets.
Experiential diversity is in
demand – a mix of seasoned
professional directors (who have
weathered many governance and
corporate challenges) and recent
and current executives who have
contemporary knowledge of the
business and business processes.
Board members
Directors will be clever. They
will all be active contributors to
boardroom discussion. Strategic
thinkers will be demanded.
Directors will be judged by their
business skills and credibility.
The chair and senior or
lead independent chair
The ‘independent chair’ is on
the ascent. Some jurisdictions
will hold out for the compromise
senior or lead independent
director to work with the
executive chairman. Good
chairs will be in demand. They
will interact with the board,
shareholders and the CEO and
management. Chairs will ensure
boards play their defined role and
that all players in the boardroom
(directors, management and
advisors) assist the board to make
good decisions. The chair will
lead the tempo and dynamics of
boardroom engagement and will
take responsibility for orientating
new directors including the
new CEO and supervising the
performance of all directors.
Director engagement
Professional directors will spend
more time working closely with
fewer rather than many boards.
They will be curious about the
operations of the business, will
test products, make site visits,
and participate in professional
development that enhances their
understanding of the business
and its context.
Jurisdictional
divergence
The principle differences are
1.Cultural attitudes about
independent directors,
especially in countries with
family-dominated companies;
2.The European 2 tier system
of a board of directors (to
manage the company) and
a supervisory board of
independents (to supervise the
management). Some Boards are
convened of representatives of
shareholders and labor;
3.Shareholder say on pay.
However there are active
conversations in many
jurisdictions about the future
shape of boards, with the
prospect that differences
between them are likely to
be smoothed out.
4
Indigenous Governance Program
in the Pilbara
Kristen Chiera
Education and Board Services
Executive
In 2009, the WA Division
delivered the first Indigenous
Governance Program (IGP) in
Kununurra. Since that day, it has
continued to gain the support
and respect of many indigenous
organisations in WA.
On 11 June 2013, I was
delighted to participate in
and coordinate the first of
six Indigenous Governance
Program sessions to Kuruma and
Marthudunera Elders, Directors
and young people in Karratha.
The participants were there
representing their family and
respective organisations; either
the trustee Kuruma Marthudunera
Ltd (KML), the governing body for
Native Title Kuruma Marthudunera
Aboriginal Corporation (KMAC) or
the Traditional Owner Council.
Kimberley Slattery, Chair of
KML, was complementary of the
course "To restore capacity to our
people is to let us be responsible
for our own future... Governance
training gives us the tools to
strengthen our organisations and
further empower our boards to
better serve our Community."
Cairns based Facilitator Margot
Richardson GAICD is familiar to
and respected by many of our
indigenous organisations. Margot
skillfully applied the concepts
of the role of the director and
the board and board meetings
and governance to the KML and
KMAC organisation constitutions
and trust deed. She commented
on the second day how mature
the organisations had become
in the two years since their
first governance training with
Company Directors and there was
a positive feeling in the room at
the end of the two days.
Participants at the Indigenous Governance Program
Professional
development for
the whole board
"To restore capacity to
our people is to let us be
responsible for our own
future... Governance
training gives us the
tools to strengthen
our organisations and
further empower our
boards to better serve
our Community."
Kimberley Slattery,
Chair of KML
Participants at the Indigenous Governance Program
In- Boardroom
Wanting to refresh knowledge? New
directors on your board? Looking to
reinvigorate your performance in 2013?
No matter what type of organisation,
industry or structure, our In-Boardroom
service can assist with the professional
development for your whole board or
senior executive team.
For more information contact Kristen Chiera
t: 08 9320 1704 e: [email protected]
5
WAdirector | SPRING 2013
CONGRATULATIONS
Company Directors Course Graduates
Mr Bruce McHarrie GAICD
Ms Paula Cowan GAICD
Ms Tanya Ross Jones GAICD
Ms Sharon Warburton GAICD
Mrs Irene Bell GAICD
Ms Katherine Vickers GAICD
Mr Christopher O'Connor GAICD
Mrs Leonie Baldock GAICD
Mr John Pestell GAICD
Professor Gerry O'Driscoll GAICD
Mr Martin Mileham GAICD
Ms Olivia Norris GAICD
Mr Glen Chidlow GAICD
Mr Pasquale Cesare GAICD
Mr Pasquale Rechichi GAICD
Mrs Kymette Peck GAICD
Ms Lisa Dobrin GAICD
Ms Anthea Bird GAICD
Mr Noel Bonnick GAICD
Mr Vernon Davey GAICD
Mayor Tracey Roberts GAICD
Mr Michael Hussey GAICD
Mr Andrew Griffiths GAICD
Ms Mariyon Slany GAICD
Ms Jane Gouvernet GAICD
Dr Linda Friedland GAICD
Ms Meagan De Piazzi GAICD
Mr Richard Baston GAICD
Mrs Kathy Reid GAICD
Mr Guido Bressani GAICD
Mr Brian Ferreira GAICD
Dr James Williams GAICD
Mr David Courtney GAICD
Mr John Naughton GAICD
Mr Michael Brindal GAICD
Mr Ian Cook GAICD
Ms Shirene Varendorff GAICD
Councillor Karen Chappel GAICD
Ms Fiona Reid GAICD
Ms Natasha Ogonowski GAICD
Mrs Helen Bullock GAICD
Mr Shawn Weir GAICD
Ms Penelope Carr GAICD
Mr Alec Courts GAICD
Ms Su Sze Ting GAICD
Ms Maree Arnason GAICD
Mr Stephen Psaila-Savona GAICD
Mr James Shaw GAICD
Mr Rajat Sarawat GAICD
Mr Lucas Hough-Neilson GAICD
Mr John Mallon GAICD
Mr David Fyfe GAICD
Mrs Elizabeth Hunt GAICD
Ms Karen Logan GAICD
Mr Christopher Andrich GAICD
Mr Kevin Williams GAICD
Mr John Riordan GAICD
Ms Cathy Cruikshank GAICD
Dr Natalia Streltsova GAICD
Ms Rosemary Moore-Fiander GAICD
Ms Michelle Butler GAICD
Ms Jacqueline Ronchi GAICD
Mr Bruce Layman GAICD
Mr Michael Chester GAICD
Mr Anthony Hasluck GAICD
Ms Catherine Barnes GAICD
Ms Marie Malaxos GAICD
Mr Timothy Lane GAICD
Mr Carl Beck GAICD
Mr Nigel Tinley GAICD
Mr Anthony George GAICD
Mr Vincent Simpson GAICD
Ms Julie Mizen GAICD
Mr Edward Samson GAICD
Mr Paul Dearlove GAICD
Mr Greg Traynor GAICD
Ms Joanne Gilbert GAICD
2013 Outback Forum
Port Hedland – Resourcing the North
In 2013, we have chartered a 100 seater plane to take our members back
to the great Pilbara region and showcase the iron ore hub of the north –
Port Hedland. Take this unique opportunity to see for yourself what the
hype is all about.
The format for the forum includes a site visit of BHP’s Port Haven
accommodation village, Nelson Point Operations Centre and the Harbour
itself. Hear from speakers in regional development, BHP Mining and
Resources, as well as local perspectives on business in the North.
Friday 4 October 2013 – Full day tour 7.00am - 7.30pm
Members: $650.00 – Non-members: $850.00
Reserve your seat today
t: 08 9320 1700 e: [email protected]
Supported by:
Sponsored by:
6
Improving productivity
Stewart Key GAICD
Partner, Litmus Group
Member since 2012
Australia’s productivity
performance is a recurring
topic on the national agenda.
The discussion ranges across
different industries, business
and political perspectives,
different industries’ contribution
to the overall productivity
levels, Australia’s standing
among its global peers, and the
extent to which Australia’s low
productivity hinders its ability
to compete convincingly in the
international market.
Although productivity is an
issue at these macroeconomic
levels, it also represents a
real challenge to our business
community. International research
shows Australian businesses rank
poorly in commercial capabilities
when compared to international
equivalents . This gap provides
opportunity to improve and
leverage the learning from highperforming organisations locally
and internationally.
Despite 78 per cent of
businesses stating that they
prioritised productivity as
an organisational objective,
less than 20 per cent actually
measured productivity
improvements over the past year.
However, the turbulence of the
current economic environment
means most companies are
deliberately working on cost
reduction initiatives.
Research indicates that
most of these cost reduction
initiatives will not meet their
goals. Recent research show that
over 90 per cent of businesses
do not reach their targets for
cost savings initiatives – despite
the average business aiming to
reduce costs by only about two
per cent per annum.
Cost reduction programs failed
to achieve sustainable benefits for
very familiar reasons: diversion
of key resources, underestimation
of program costs and duration,
unclear ownership, delayed
execution and double counting
of savings. Often injudicious
cost-cutting of key capabilities
causes costs not only to roll back,
but even escalate. Indeed, most
companies restrict themselves
to capital and expenditure
optimisation, rather than investing
in the extra effort required to
improve the yield of the business.
An improvement in yield
requires a focus on fundamental
organisational change, realigning
the business behind the assets
and activities that drive value.
This investment of time and
effort reaps dividends in terms
of effectiveness, and also creates
a strong platform for growth,
particularly when the market
turns, and the organisation’s
operational efficiency and
strategic alignment enable it to
quickly capitalise on opportunities
as they arise.
Capital
A capital-focused program
can achieve up to 50 per cent
reduction in capital requirements,
as well as embedding improved
controls in business decisionmaking. Capital optimisation
work includes reviewing the
process for capital expenditure,
and ensuring that investment
is made only when there is a
demonstrated business case.
It also includes ensuring that
investment is being made in the
right things, for the right reasons
Expenditure
Expenditure-focused cost reduction
can deliver a 10‑20 per cent
decrease in corporate overheads
through the rationalisation of
activities and associated resources.
It is generally delivered as a
program or project in the business
with a finite life, and represents a
focussed effort to target shortto medium-term cost reduction
usually associated with extraneous
overheads and resources.
Yield
Optimisation entails a more
fundamental review of the cost
base and business transformation
within the broader organisation.
This review is based on three key
principles:
• Doing more with less;
• Focusing all efforts in the
business on only value-adding
activities; and
• Eliminating or minimising all
non-value-adding activities.
Long-term, transformational and
sustainable productivity growth
through cost reduction in a
business requires a wholehearted
commitment to the journey.
Strong leadership buy-in and
direction is critical throughout, in
order to avoid complacency and
prevent the business from slipping
back into old habits. A clearly
articulated strategy ensures
that cost focused activities drive
strategic delivery, rather than
inadvertently undermining it.
Litmus Group is a management
consultancy firm specialising
in the creation of tangible
value through the realisation of
strategy. We partner with clients
and their teams to translate their
strategic intent into the outcomes
they had envisaged. For over
14 years, we have been helping
our clients break new ground in
their pursuit of productivity and
to derive the benefits associated
with optimal performance.
We are an employee-owned
firm with a committed and
talented team that is driven by
the strategic value we can add
to our clients’ businesses. We
have offices across Australia
and in Singapore. Litmus has
access to international expertise
through its global membership
of Highland Worldwide, an
international partnership of
locally focused consulting
companies with common values.
Through this partnership, we
offer our clients global knowledge
and cross-industry experience
from more than 2500 consultants
in 50 offices around the world.
In 1998, Litmus was born with
a clear mandate: to partner with
clients to realise their strategic
goals. We were then, and we
remain today, a new breed of
management consulting firm that
is driven by value.
For more information please
contact [email protected] or
visit www.litmusgroup.com
7
WAdirector | SPRING 2013
Director Profile
What do you think are
the foundations of being
a good director?
HON CHERYL
EDWARDES
Maicd
Member since 2011
DIRECTORSHIPS
• North West Infrastructure Pty Ltd
• Future Directions International
Pty Ltd
• Liberal Party of Western Australia
The ability to be able to listen,
enquire, look to how you can
add value to the board and to
the company, make comment
on areas you know well and
ask questions on areas you
don’t know so well – and listen.
And when it comes to asking
questions – be quiet and listen to
the answer.
It is also vital to know the
environment and the legal
framework in which the company
is operating. Internal and external
stakeholders are unforgiving
where there are breaches.
Read your board papers. This is
absolutely critical and while it
may seem trivial, I have attended
meetings where other directors
are not across the business of the
day. That is a waste of everyone’s
time and doesn’t reflect well on
you and the board.
“Read your board papers.
This is absolutely critical
and while it may seem
trivial, I have attended
meetings where other
directors are not across
the business of the
day. That is a waste of
everyone’s time and
doesn’t reflect well on you
and the board.”
If you are a new director, take
time to discuss agenda items with
other directors in advance of a
meeting. It is also useful to sit
down with one or more directors
before your first meeting to
get a feel for the boardroom
environment. Ask for further
information through the chairman
if you are unsure about particular
items or seek a briefing.
Be prepared to ask the dumb
questions if you don’t know
the answer or wish for further
clarification. Even at the
board level there are no dumb
questions and in fact other
directors may be thinking the
same thing but won’t raise their
voice because they’re concerned
about how they’ll look.
Based on your experiences, what
is the best advice you can give to
aspiring directors?
Look for companies that will
interest you – and may well be
outside your comfort zone – and
to which you can add value.
Respect for your fellow board
members is important. You will be
spending many hours with them
so it is important that you feel
comfortable with them.
What is the best piece of advice
you have received over the years
and by whom?
My mother gave me a piece of
advice that I pass onto all my
mentees and in particular women:
there is nothing that you cannot
do if you set your mind to it.
I always add what I learned in
being a Minister and that is to
be yourself. People then see
someone who is honest, credible
and has integrity because you
aren’t compromising who you are
for the sake of another’s opinion
of you.
Whom do you admire – either
a Director or business leader
and why?
Hon. Richard Court was the
Premier of Western Australia in
whose Cabinet I served for eight
years. His style of leadership,
professionalism, guidance and
support has continued to assist
me in all my subsequent years. As
a mark of the man, Richard still
calls me on my birthday every
year. He does not forget those
who worked with him.
“Look for companies
that will interest you –
and may well be outside
your comfort zone –
and to which you can
add value.”
What do like to do in your
spare time?
I probably read two to three fiction
books in a fortnight on my iPad.
My favorite fiction author this
week is Harlan Coben. The iPad
is fantastic particularly for travel
and it keeps me connected. I may
seem like a person who is outside
the technological funnel, so I
like the fun of surprising people
when they see me grab my tablet.
I also love reading books about
leadership and biographies (or
auto-biographies) of great leaders.
What has been your best career
decision?
Always taking an opportunity
when it is presented. I have been
most fortunate in my life to have
been given many opportunities.
I have loved all my roles and
have never regretted any. Being
a minister (and the first female
Attorney-General in WA) was
very special because it is not an
opportunity that presents itself
to most people.
It is not always apparent to those
who have not served in cabinet
that being a minister is similar to
being an executive director. As a
minister you are responsible for
developing policies for all the
portfolios within your allocation.
You are also as responsible to
the electorate as you would be
to shareholders. You also share
the responsibility of all decisions
of government. It is not just
relating to State policies but also
incorporates Federal policies as
they may impact on the State.
8
Why do you want to be a
director? What skills do you
think you could bring to a
Board table?
Clinton
Bradbury
GAICD
Member since 2007
DIRECTORSHIPS
• WACAR (West Australian
Corporate Acqusition Register)
• SCEA (Swan Christian Education
Association)
The office of a director is one
that I see as a great privilege
and a wonderful challenge to
execute. It is a privilege to know
that the shareholders and or
fellow directors see you as fit to
affect influence upon the board
and in turn affect leadership
upon the resources of the
company.
The challenge of directorship,
and for me the primary driver for
becoming a director, comes from
owning a vision and the reason
the entity was created, to then
use my skill to collectively chart
a path to corporate success.
I do some home renovations
and nothing gives me more
satisfaction than being able to
have the vision for a project,
do the building and see the
embodied vision at the end. Now
to do this in a corporate context
as a director, whilst bringing
other people on the journey
(other board members and
management), is both satisfying
and a great privilege.
The skills that I bring to the
boardroom table are diverse,
I believe I have a strong set of
basic skills plus an advanced
understanding of corporate
governance, strong financial
competency, a working
knowledge of legal frameworks
and strategic forethought gained
over nine years of being involved
in mergers and acquisitions. But
a unique skill I bring to the table
would be a strength to believe
that the impossible may be
possible. I relish the opportunity
of a NED to enter a boardroom
with a fresh perspective. I would
rather look at what we are trying
to achieve and what resources
we need to chart a course, as
opposed to looking at what
resources we have and how can
we best use them to achieve the
vision and mission.
What has been your greatest
achievement in the past year or
the one you are most proud of?
Two years ago I started a
corporate advisory and in the
past year, as we have taken on
staff and shifted into Brookfield
Place, I have begun to see staff
members genuinely own the
vision. I have started a number
of companies before, with some
success and some failure, but
now, in the corporate advisory,
I see staff members come on
board and really get the vision.
I consider myself an entrepreneur
at heart, able to generate
new ideas and the find the
means to execute them. Whilst
this is something that I have
experienced before, seeing it
now in my own company I find
that extremely satisfying and a
great achievement.
If you could nominate one
director or business leader you
would you like to have dinner
with who would it be and why?
That would have to be Michael
Smith. A number of years ago
I was at a Company Directors
function for emerging directors.
During a question and answer
session I asked Michael if I could
be his Apprentice Director, he
answered the question with a
chuckle and said ‘maybe’.
Having gained some director
experience and completed the
International Company Directors
Course (CDC) I would seek a
lunch with Michael to ask the
question again.
What goals have you set for
yourself in the next five years?
Professionally – establish three
overseas offices for my corporate
advisory. Directorship – increase
my effectiveness on boards on
which I sit. Education – gain the
CFA (Certified Financial Analyst)
certification. Personally – have
uninterrupted investment into
my marriage and children.
What do you like to do in your
spare time?
I like to spend time with my
family, keep fit by cycling,
further my knowledge with
study and giving back to the
community through my church.
What do you consider is
necessary to becoming a
good director?
A director must understand
that you are elected to a board
to bring many things but most
importantly to bring your
independent opinion and allow
that opinion to be tested. Yes,
as a director you are a part of
a team and the board speaks
as one voice but a board is a
collective mind with the one
voice. Therefore to have the
confidence to speak frankly
and engage in open respectful
discussion whilst succinctly
communicating your educated
and considered opinion is
imperative.
What has been your best
career decision?
I have a number of people of
whom I have a great deal of
respect for that I allow to speak
in to my life both professionally
and personally. I allow these
people to shape my thought life
and continually challenge me. I
believe this builds a strong base
for me in many different ways
and leads me to better decision
making around my career.
9
WAdirector | SPRING 2013
The Future Series: The Board in 2020
By 2020 a director's
environment will be dominated
by globalisation and technology.
And as more Australian
companies expand overseas or
function as regional operations
global companies, directors will
need a greater understanding
of international business
operations. The WA Division
recently hosted a director
briefing discussing what a board
might look like in the future. The
panel, including Michael Smith
FAICD, Chairman of Australian
Institute of Company Directors,
Colin Beckett of Chevron
Australia, Graeme Sheard of
KPMG and Alison Gaines FAICD
of Gerard Daniels echoed the
sentiment that boards will be
shrinking in the future and
diversity of skills and culture will
become paramount.
Daneil Png, Amanda Kearnal, Trent Bartlett FAICD, Peter Beveridge
GAICD and Murray Johnsen GAICD
Panel in discussion
Sheila McHale GAICD and Ian Mickel AM FAICD
Emerging director hypothetical –
the new chair
The WA Division recently
showcased a "hypothetical"
event concept titled "Master or
Commander? the new Chair".
Hosted and created by WA
member Jonathan Huston
GAICD, the improvised play
involved a panel of high-profile
Perth directors acting in roles
and selecting from a list of chair
candidates for a fictional ASX
listed company.
The event, hosted at the State
Theatre in true theatrical style,
received fabulous feedback and
guests included Margaret Seares
AO FAICD and Patricia Kailis AM
OBE FAICD.
Volly Romanchik, Diane Smith-Gander FAICD
and PJ Kinder MAICD
Margaret Seares AO FAICD, Steven Cole FAICD and
Paul Curtis GAICD
Andrew McMillan MAICD,
Jamie Ogilvie and Will Moncrieff
Play in action
10
The Directors’ Cut Lunch: Property Sector
The WA Division recently
held a lunch with more than
150 members and guests that
focussed on the swings and
roundabouts within the property
sector. The panel, featuring
Stockland Corporation's
Chairman Graham Bradley AM
FAICD, Paul Sadleir FAICD of
Cedar Woods and Gene Tilbrook
FAICD of GPT Group, discussed
the unique characteristics and
transparency of companies
in the property sphere and
outcomes of the Centro case
including more structured
reporting requirements.
Graham Reynolds OAM FAICD, Tony O'Shea FAICD and Paul Sadleir FAICD
Shirley In't Veld MAICD and Graham Bradley AM FAICD
Kimberley Kohan FAICD, Christian Formby and Sharon Kais MAICD
Chairman’s Roundtable Lunch:
Family Business
In June, the WA Division hosted
a small roundtable lunch at The
Heritage Bar and Brasserie for
Chairs of family businesses in
WA. There are many unique
challenges for boards of private
companies, one in particular
is around “culture” and how
to capture what has driven
the success of the business
and convert it into profitable
outcomes for the longevity
of the company. Other issues
include growth and expansion,
succession planning; ownerrelated issues; limited resources
and risk. We were delighted that
Janet Holmes à Court AC, led
this discussion and thank you to
Commonwealth Bank for their
sponsorship of the lunch.
Family Business Governance in discussion
Upcoming event
Later this month, we will be
hosting a director briefing
within the Future Series
titled “Strive to Thrive –
the good governance
journey” for private and
family businesses.
For more information, visit:
w: www.companydirectors.
com.au/events.
Janet Holmes a Court
11
WAdirector | SPRING 2013
The lifecycle of a mining/oil and gas board
its major shareholders who
are one or more of the drivers
for the change in the board’s
composition.
• Corporate Governance:
The level and sophistication
of the company’s corporate
governance systems and
processes increases as the
company moves from an
explorer to a producer.
At the early stages the
smaller board is often able
to handle most aspects of
corporate governance without
committees. However, by
the time it is in production
and generating revenue the
board will be larger with
board committees such as
Audit and Risk Management,
Remuneration, Safety,
Nomination and Defence
in place.
In conclusion the overall
challenge for a board during
the lifecycle of an exploration
company is to effect change
to the composition of a board
while retaining corporate and
project knowledge and ensuring
the board is working effectively
and efficiently for the benefit
of shareholders.
necessary feasibility and
development work to turn the
discovery into a producing
mine or oilfield? Or if the
company is a successful and
profitable producer does the
CEO have the ability to expand
or diversify the company’s
activities geographically or by
commodity or by acquisition
so as to enable the company to
continue to grow. Examples of
Western Australian companies
where CEOs have changed their
board roles as their companies
have become producers include
Fortescue Metals Group Ltd;
Atlas Iron Ltd; BC Iron Ltd and
Saracen Mineral Holdings Ltd.
• Who Initiates the
Transition? Somebody
on the board or the board
collectively needs to have the
awareness and experience
to appreciate that the board
requires different skills
and experience to take the
company through the next
phase of its development. It
may be the chair, the regular
process of board evaluation,
the board’s own succession
planning, the company’s
external advisers or sometimes
Life Cycle of a Junior Explorer
EXPLORATION
MINING
12
Orphan
Period
Speculation
1-2y
0
Institutional
Investment
ears
ears
2
r
6
1 yea
Speculators
Leave
8
4
Full value
Lowered risk
High Risk
High Potential Value
10
2-3 y
At a West End Briefing In June
the opportunity was taken for
directors and advisers to consider
how the composition of the
board of a resources exploration
company may transition as the
company goes through different
stages of growth.
With reference to the diagram
below showing the “Life cycle
of a junior explorer”, it was
submitted that the “life cycle”
could be generally divided into
the following three stages, with a
suggested typical board size and
the director skills and experience
that are likely to be required:
• Concept/Pre-Discovery/
Discovery (3 to 5 Directors):
CEO; Entrepreneur/Deal
Maker; Geologist/Technical;
Equity Raising/Financial
Markets; Legal/Commercial
Background with the Chair one
of the preceding directors.
• Feasibility/Development
(5 to 7 Directors): CEO;
Mining Engineer/Constructor;
Financial/Chair of Audit &
Risk Management Committee;
Project Development /
Management/Finance
experience; Government
Approvals/Environmental
Issues/Native Title
experience; Legal /Commercial
background; Technical
director depending on type
of project e.g. Metallurgist/
Product Marketing with the
Chair having commercial
and corporate governance
experience with medium or
large companies.
• Start-Up /Operations
(5 to 9 Directors): CEO;
Operational Project
Management; Safety/Public&
Government Relations/
Infrastructure experience;
Product Marketing/ Shipping/
Transport experience;
Financial/Chair of Audit &
Risk Management Committee/
Taxation; Industry Sector
Experience; Legal /Commercial
Background; “Taking the
Company to the next Level”
-Business Development/M&A/
Exploration and Strategic
Planning experience with
the Chair having commercial
and corporate governance
experience with large
companies.
If these three stages are
encountered then some of
key issues that were seen as
being important in relation to
functioning of the board and
its responsibilities through the
stages include:
• Share Price Cycle: The “Life
cycle of a junior explorer”
diagram succinctly explains
how a board needs to
appreciate how its relative
value (i.e. share price) will
fluctuate and the periods when
is a good time or tough time
to raise funds via use of the
company’s share capital.
• The CEO Factor: The board
needs to regularly assess
whether the CEO is the right
person to lead the company
through the next stage of its
development. For example,
does the geologist or technical
CEO who made the discovery
have the appropriate skills
and experience to lead the
Relative Value
David Craig MAICD
Member since 2000
24 June 2013
>4-5 years
Concept
Pre-discovery
Discovery
Feasability
Development
Startup Deplete
Time
12
Mining Rehabilitation Fund:
should you opt-in early?
institutions as security for the
Mining Act bonds provided by
those financial institutions.
Transition to the MRF
– early opt in
Bronwyn Davies GAICD
Partner, Lavan Legal
Member since 2011
The new mining rehabilitation
fund (MRF) commenced in
Western Australia on 1 July 2013,
with all provisions of the Mining
Rehabilitation Funds Act 2012
(WA) (MRF Act) and the Mining
Rehabilitation Fund Regulations
2013 (WA) (Regulations) coming
into operation.
The MRF will provide a
pooled fund to cover cost of
rehabilitation where a tenement
holder has failed to meet its
rehabilitation obligations and
interest earned on the fund will
be used to rehabilitate historical
abandoned mine sites in WA.
Contributions to the fund are
by way of an annual levy. The
levy is currently 1% of the
“rehabilitation liability estimate”,
which is calculated by reference
to a set cost per hectare for each
prescribed category of land
disturbance. No levy is payable
if the “rehabilitation liability
estimate” is less than $50,000.
The commencement of the
MRF is significant for tenement
holders who currently have
money tied up in environmental
bonds imposed under the
Mining Act 1978 (WA) (Mining
Act). Whilst the MRF does not
actually replace the Mining Act
bond system, the expectation
is that most Mining Act bonds
will be released once tenement
holders begin to contribute to
the MRF. Consequently, many
tenement holding companies will
be able to secure the release of
cash deposits held by financial
Under the MRF Act, by
30 June 2014, each tenement
holder is required to submit to
the Department of Mines and
Petroleum (DMP), for each
tenement held (other than those
held pursuant to certain State
Agreements), prescribed data for
the period from 1 July 2013 to
30 June 2014 and the MRF levy
for that period will be assessed
on the basis of that data. The
resulting levy assessment notices
will be issued from 1 July 2014.
The policy which will guide the
release of Mining Act bonds
upon payment of the levy for the
2013-2014 period is still being
developed by DMP.
In the meantime, DMP has
established an “early opt-in”
system under which tenement
holders can seek to secure the
release of Mining Act bonds
without having to wait for the
assessment notices for the 20132014 period to be issued and paid.
Under this system, tenement
holders may submit tenement
data for the period 1 July 2012
to 30 June 2013, and pay a MRF
levy calculated on the basis of
that data. Once that levy is paid,
the tenement holder will be
eligible to have any Mining Act
environmental bonds released,
thereby freeing up any cash
deposit backing or other security
which has been required for the
issue of those bonds.
The payment of the levy based
on the 2012-2013 period will not
release a tenement holder from
its obligation to lodge assessment
data, and pay the resulting levy,
for the 2013-2014 period. In other
words, tenement holders who do
opt-in early will pay an additional
year’s levy into the MRF.
As to when Mining Act bonds
will be released during the “early
opt-in” period, DMP has released
draft guidance notes as follows:
1.If the tenement holder, or
the entity which controls the
tenement holder, is currently
under administration, in
liquidation, the subject of
a winding up application
or order, under a deed of
company arrangement,
scheme of arrangement or
deregistration proceedings, the
tenement holder’s Mining Act
bonds will not be released.
2.If the tenement holder has
been issued with any fines,
direction to modify or stop
work orders within the last
two years and/or the relevant
tenement is due for renewal
before 1 July 2014, the
tenement holder is required
to write to DMP outlining the
reasons for wanting to opt-in
to the MRF early. This letter
can include an explanation
for any fines, evidence of
corrective action and, in
relation to a tenement which
is going to expire prior to
1 July 2014, a commitment to
renew the tenement.
Considerations
In determining whether to optin to the MRF early, tenement
holders should:
• Ascertain whether they will
qualify to have their Mining
Act bonds released having
regard to the DMP guidelines;
and
• Weigh up the cost of funding
an additional year’s levy
contribution against the cost
of maintaining current Mining
Act environmental bonds until
the payment of the levy for
the 2013-2014 period.
For more information please
contact Bronwyn Davies, Partner,
Lavan Legal on +61 8 9288
6882 or email Bronwyn.Davies@
lavanlegal.com.au
13
WAdirector | SPRING 2013
Regional update
Regional Lunch with David Flanagan FAICD
David Flanagan FAICD recently completed a roadshow tour of our regions
including Albany, Kalgoorlie, Geraldton and Bunbury. Alan Green FAICD of
Total Business Technology, a member of Company Directors since 1987,
spoke to us about his impressions of the man.
I had done a little research on David Flanagan and Atlas Iron
before the Bunbury event so that I could perhaps get a better
understanding of the man and his business.
My thoughts on arriving at the lunch were that this speaker was
going to be something special, due to the well above average crowd
numbers that were assembled outside the venue for pre-lunch
drinks. Or was it to renew friendships with “the local guy, national
success story” from school days?
Once David took the podium for his address it was clear why
there was a large crowd in attendance.
David has a very engaging personal style of speaking. He draws
you in to his domain with his obvious grasp of his subject matter,
but more importantly, his sidestep anecdotes of his personal
interactions with well-known and very colourful characters in his
industry is what really engages the listener fully.
His admissions on the behind the scenes manipulation and the
exertion of influence in the mining, business and political landscape
is what elevated the speech and captivated his audience.
David’s frank and open answers to the questions at the end of the
speech were where the takeaway gems lay. His admissions included
that he had learned that he could not know everything, to surround
yourself with a good team and to remove people from the business
that do not advance the cause of the business.
For the attendees he included these additional salient comments:
• If you are on a not for profit board – give, get or get off.
• The ability to recover from adversity is an undervalued trait.
• Belong to an industry body like Company Directors to advance
politically the cause of businesses that do not have the influence of
the multinational companies.
The Company Directors team and David must be congratulated for
providing our South West based company directors with a quality
opportunity for networking, director education and Company
Directors advocacy with such high calibre speakers.
BOARD ADVICE
Albany guests: Jo Gilbert GAICD, Peter Rundle GAICD,
Jane Hare and Doug Dallimore
Ashok Parekh MAICD and
David Flanagan FAICD
Geraldton guests:
Gail Metcalfe-Bennett MAICD
and Bonnie Stafford
Bunbury guests:
Alison Comparti MAICD
and Richard Doust FAICD
David addresses the
Albany audience
Recruitment, Composition, Review
WA’s leading specialist in the search for Non-Executive Directors and Chairmen.
To:n Find out how Mike can help you find the right director for your organisation
n Determine if you should be on his database of suitable candidates
Contact Mike:- BOARD ADVICE Principal, Mike Horabin FAICD
Email: [email protected] | Mobile 0417 344 388 | Phone(fax) (08) 9245 1551
Principal, Mike Horabin FAICD
14
Share your war
stories to plan for
the future
Cesare Scalise and Matt Gurner
Partners, PwC
Navigating through the myriad
of emotions and issues relating
to succession planning is an
overwhelming experience
for many family business
owners who chose to instead
adopt a “what I don’t know
won’t hurt me” approach. In
today’s economic climate, a
lack of planning for the intergenerational transition of a
business could be a costly
oversight in terms of both the
financial and emotional costs.
As American baseball coach Jim
Evans said “a great way to lose
control is to ignore something
when you should address it”.
Directors have a real
opportunity to share their
expertise and guide their boards,
business owners and the next
generation of the family through
the potentially difficult process.
For family businesses which
have built their business from
the ground up, the conversation
needs to be about passions and
dreams, not balance sheets and
financials. It also needs to be
had whilst they are still alive
and have capacity, and ideally all
adult family members should be
involved to get them on board.
A global survey conducted
by PwC last year found that
while almost half of Australian
family business owners intended
to pass on their business
to their children, less than
44 per cent had a succession
plan in place. With extensive
market knowledge and firsthand experience as business
leaders, directors are able to act
with independent opinion and
recommendations on the intergeneration transfer process.
Australia is entering a period
of the biggest inter-generational
wealth transfer in history
with an estimated transfer
of $3 trillion in wealth over
the next ten years. However,
the Federal Government’s
Parliamentary Joint Committee
on Corporations and
Financial Services found that
"... Australian family businesses
have not adequately planned
for succession despite the
impending retirement of their
baby-boomer owners – with
best estimates showing that
upwards of 60 per cent of
business owners plan to retire
between 2006 and 2016 and
that 75 per cent of those owners
have no exit strategy".
Good governance
principles for
not-for-profit FREE
organisations
As part of our commitment to the not-for-profit (NFP)
sector and its directors, we have developed the Good
Governance Principles and Guidance for Not-for-Profit
Organisations.
The principles and guidance are designed to assist boards in
determining what constitutes good governance practice for their
organisations and to achieve better outcomes through good governance.
A key aspect of the principles and guidance are questions for
consideration which are designed to enable boards to consider the
governance needs of their own organisation, rather than a ‘tick and
flick’ approach of recommendations.
“In today’s economic
climate, a lack of
planning for the intergenerational transition
of a business could be a
costly oversight in terms
of both the financial and
emotional costs.“
Having no plan or an
inadequate succession plan in
place significantly increases the
chance of the business failing
with its associated economic
and social costs for the family,
the business and wider society
in terms of job losses and lost
productivity. By contrast, a
bespoke succession plan lessens
the chance of costly family
disputes and the business failing.
It will also usually increase
family harmony and the value of
the business.
By acting now on the issue of
succession planning, directors of
private and family businesses have
a real opportunity to influence
the successful inter-generational
transition of a business.
To access a copy of the principles and guidance visit
w: www.companydirectors.com.au/goodgovernance
15
WAdirector | SPRING 2013
Five minutes with WA’s newly appointed
State President – Gene Tilbrook FAICD
Mr Tilbrook is currently a
director of Aurizon Holdings,
GPT Group, Orica, and Fletcher
Building. He also sits on the board
of Bell Shakespeare Co and the
Committee for Perth and is a
councillor of Curtin University.
Highly respected Perth
businessman and company
director, Gene Tilbrook FAICD,
has been elected as President of
the Western Australian Division
of the Australian Institute of
Company Directors.
Mr Tilbrook will also sit on
Company Directors’ National
Board. He succeeds former
President Michael Smith FAICD
who was elected Chairman of
Company Directors’ National
Board in May, following the
passing of James Strong AO
FAICD.
What does this new
appointment mean to you?
The new appointment is an
opportunity to advocate actively
on issues affecting the director
community. It’s a privilege to take
on this position – at a time when
Company Directors is taking
an increasingly international
outlook, and while many directors
in Western Australia are facing
new challenges.
What are some of the
challenges Directors currently
face in WA?
In WA I’d note two sets of issues –
the impact of a considerably
lower rate of capital investment
in minerals, which could prevail
for some years; and a large
number – and proportion –
of listed companies that are
small and emerging. Many of
those organisations have not
yet been able to embed good
outcomes for shareholders,
even in very buoyant times –
in part due to cost pressures,
competition for resources
and regulatory complexity.
In the new environment,
some directors are refocussing
their organisations on key areas
including effectiveness, new
sources of funding, in some cases
mergers (that in turn re-opens
issues of director responsibilities).
In the WA Division we’re renewing
our programmes to make them
relevant to what will be new issues
for some directors and I want to
encourage that engagement.
How do you see the director
role changing in the coming
years and the institutes role in
these changes?
We know that Australia’s
economy needs big productivity
improvements and a good
deal more innovation – and
that achieving them will be
challenging. Company Directors
has important roles in education
for emerging directors; promoting
debate around issues; and
providing a voice for improved
regulation and reporting.
While complex and overlapping
regulation is constraining many
organisations, we can’t expect
to “just reduce it”. We will need
to work constructively with
Governments and regulators
to establish clearly defined
outcomes and standards, and
more effective ways of achieving
them. Company Directors has a
strong capacity to lead in this
process and I look forward to
participating at both divisional
and national levels.
What valuable piece of advice
can you can share with aspiring
directors today?
Look to the big issues that face
each organisation, and how you
can contribute meaningfully to
the debate.
Company Directors
Course for ASX 300
the future of your business
Exclusively for ASX 300 you
will have the opportunity
to network with your peers,
and discuss the common
challenges of governance for
a public company director
and executive.
21 - 27 November
For more information or to enrol visit w:companydirectors.com.au/cdc
or contact t:08 9320 1700 e:[email protected]
16
Congratulations long standing members
10 years
Mr Tony Adcock FAICD
Chairman
The Bathurst Group
Mr Paolo Amaranti MAICD
Chief Executive Officer
Rottnest Island Authority
Mr John Barrington FAICD
Managing Director
Barrington Consulting Group
Mr Michael Brown GAICD
Managing Director
Goldmont
Mr Ian Chamberlain JP MAICD
Chairman
I G Chamberlain & Co
[Felix Enterprises]
Ms Tania Chambers FAICD
Creative Industries Consultant
Feisty Dame Productions Pty Ltd
Mr Stephen Duffield
FCPA FAIM MAICD
Managing Director
Fugro Survey Pty Ltd
Ms Megan Edwards GAICD
Director
Ironmonger Financial Pty Ltd
Mr Ralph Gore FAICD
General Manager
Brightwater Care Group (Inc)
Mr Ian Hansen MAICD
Chief Executive Officer
Wesfarmers Chemicals
Dr Denham Harloe GAICD
Chief Executive Officer
Clinipath
Dr Dennis Hayward MAICD
Deputy Chairman
MDA National Insurance Pty Ltd
Mr Thomas Henn GAICD
Lawyer
HH9 Legal Group
Mr Martin Kane MAICD
Chairman
Kane Group
Mr James Cunneen MAICD
Managing Director
Starspell Pty Ltd
Mr Ian King GAICD Chairman
Geraldton Port Authority
Ms Jane Cutler FAICD
Chief Executive Officer
NOPSEMA
Mr Gerrit Kleyn GAICD
Director
wungong holdings pty ltd
Mr Christos Mallios GAICD
Chief Financial Officer
CFC Group
Dr Charlotte Morris GAICD
Chief Executive Officer
Baptistcare Incorporated
Ms Cheryl Robertson FAICD
State Director
Microsoft
Mr Howard Rosario FAICD
CEO
GESB
Mr Graham Shields MAICD
Managing Director
Glenvar Pastoral Co Pty Ltd
Mr Rajesh Vettoor MAICD
Operations Manager
Alliance Fasteners
Mr Paul Hallam FAICD
Director
Gindalbie Metals Ltd
Mr John Hewett FAICD
Director
Hewett & Lovitt Pty Ltd
Mr Paul Holmes A Court AAICD
Chief Executive Officer
Heytesbury Pty Ltd
Mr Gregory Johnston FAICD
Managing Director
XempleX Pty Ltd
Dr John Keesing GAICD
Senior Principal Research Scientist
CSIRO Marine and
Atmospheric Research
Ms Melanie Marshall MAICD
Director
MKDC
Ms Andrea Mitchell FAICD
Member of Legislative Assembly
WA State Government
Mr Graeme Wallis MAICD
Managing Director
Wallis Drilling Pty Ltd
Mr Mark Weller GAICD
General Manager
RAC (WA) – Motoring Division
Mr Donald Pridmore FAICD
Chief Executive Officer
HiSeis Pty Ltd
Mr David Rowland MAICD
Company Secretary Automotive
Holdings Group Limited
15 years
Mr Richard Camm Jnr MAICD
Director
Camm & Associates
Mr Giovanni Carrello AAICD
Director
BRI Ferrier Western Australia
20 years
Mr Maurice Anghie MAICD
Consultant
Mr Darryl Butcher FAICD
Managing Director
The Cardan Trust
Mr John Carstairs FAICD
Chairman
Australian Wool Growers
Professor David Gilchrist FAICD
Professor of Accounting
Curtin University
Mr Peter Harley FAICD
Non Executive Director
Perilya Limited
Mr William Kendall FAICD
Director
Mintrex
Mr Gregory Meyerowitz GAICD
Partner
Ernst & Young
Mr Denis Waddell FAICD
Chairman
Orion Gold NL
Mr Neil Warburton FAICD
Chairman
Red Mountain Mining
Mr David Wheeler FAICD
Non Executive Director
Saracen Properties Pty Ltd
25 years
Mr Robert Gianatti FAICD
Managing Director
Robello Pty Ltd
Mr Ian Macliver FAICD
Managing Director
Grange Consulting Group Pty Ltd
Mr Terry Merefield FAICD
Director
Tamram Pty Ltd
30 years
Mr Brian Mason FAICD
Executive Chairman
Mason Search Recruitments
Mr Max Rivett MAICD
Director
Cooper & Oxley Builders Pty Ltd
Eat. Drink. Be merry.
Perth’s best corporate Christmas Long Lunch
Join us to celebrate the festivities at our annual WA Christmas Long Lunch, with a two course lunch,
a host of entertainment and guest speaker Harold Mitchell, Executive Chairman of Aegis Media.
Friday 13 December 2013 – Tickets now on sale
Reserve your seat today at this sell-out event
t: 08 9320 1700 e: [email protected]
Sponsored by:
17
NOMINATE
WAdirector | SPRING 2013
a tall
poppy
today
Major Partners
Do you know someone who stands out
from the crowd?
Strategic Alliance Partners
Someone who is an outstanding
entrepreneur or business executive,
under the age of 40?
Someone who deserves recognition for
their remarkable leadership?
Media Partners
Hospitality Partners
Charity Partner
Then nominate them for a
Business News 40under40 Award!
The 2014 40under40 Awards are open to
Western Australian business owners and
executives who are under the age of 40 as
at 31 December 2013.
For more information visit
www.40under40.com.au
or contact Rosemary Grace on
[email protected]
18
Welcome new staff to the WA Division
Stuart
Munro
Member Relations
Executive
Tell us a little about yourself
Raised on a farm in the South
Island of New Zealand, I consider
myself a down to earth country
lad. I attended boarding school
in Christchurch before studying
marketing and design at The
University of Otago. After 5pm I
enjoy sport (don’t ask me for tips
on AFL however), and working
on developing property in my old
student town of Dunedin.
What do you like best about
working at Company Directors?
The people! Not only working
with a great team, but meeting
and assisting such a passionate
and driven bunch of members.
I’m also really looking forward to
attending our events and courses
to develop my understanding of
governance and directorship.
Where did you previously work?
For the past two years I have
been launching a start-up
software company called Loaded
Reports in NZ. Previous to this I
have been in brand management
for a liquor company, and
operations for a hospitality group.
Where do you see yourself in
ten years?
Playing golf every day? More
seriously, in a role that challenges
and rewards me whilst developing
a passive income through
investments. There may even be
time for some kids!
Corporate partners
Thank you to our 2013/2014 Corporate partners of the Western Australia division
Allens
Allion Legal
Ashurst
Australian and New Zealand
Banking Group Limited
Automotive Holdings Group
Limited
Bankwest
BDO
Cedar Woods Properties Limited
Clayton Utz
Clifford Chance
Commonwealth Bank of Australia
Co-operative Bulk Handling
Limited
Corrs Chambers Westgarth
Crown Perth
Curtin University
Deloitte
Edith Cowan University
Empired Ltd
EY
Gerard Daniels
Gilbert + Tobin
Grant Thornton
HBF Health Ltd
Health Insurance Fund of
Australia Ltd
Herbert Smith Freehills
iiNet Limited
Iluka Resources Limited
JLT
KPMG
LandCorp
Lavan Legal
Link Market Services Limited
Murdoch University
Patersons Securities Limited
Pitcher Partners
PricewaterhouseCoopers
RSM Bird Cameron
Shell (Australia)
St John of God HealthCare
The Right Group
RAC of WA
The University of Western
Australia
Water Corporation
Wesfarmers Limited
Woodside
Directors Breakfast: Productivity in Australia
With Peter Harris AO, Chairman, Productivity Commission
Join us at this breakfast, network with your peers and hear exclusively from Peter Harris AO, Chairman of the Productivity
Commission to learn the state of play and what you can do as a Director to enable long term growth for your organisation.
Tuesday 19 November 2013 – 7.00am - 9.00am – The University Club of Western Australia
For more information or to reserve your seat
t: 08 9320 1700 e: [email protected]
19
WAdirector | SPRING 2013
Diary dates
Events
Courses
Sponsors
Please visit the website for updated courses and events w: companydirectors.com.au/events
For all enquiries please contact t: 08 9320 1700 e: [email protected]
Thursday 19 September
21 – 25 October
Tuesday 19 November
Company Directors Gala Dinner
Hyatt Regency Perth
No DPD units applicable
Company Directors Course
Hyatt Regency, Perth
DPD: 40 units – Core
Tuesday 24 September
22 October
Directors’ Breakfast
With Peter Harris, Chairman,
Productivity Commission
UWA Club, Perth
DPD: 5 units – Organisational
Future Series Briefing
Strive to Thrive
State Reception Centre
DPD: 5 units – Organisational
Leaders' Edge Lunch
with Erica Smyth FAICD
Tower Hotel, Kalgoorlie
DPD: 5 units – Individual
Thursday 26 September
22 – 23 October
Essential Directors Update
Pan Pacific Perth
DPD: 5 units – Core
In Focus
Governance Foundations for
Not-for-Profit Directors
DPD: 15 units – Core
Friday 4 October
Thursday 24 October
2013 Outback Forum
Port Hedland/BHP
No DPD units applicable
Fellows Luncheon
With Dr Brendan Nelson
Parmelia Hilton Perth
DPD: 5 units – Individual
Wednesday 9 October
Directors’ Toolkit Briefing
Board performance, review and
evaluation
DPD: 5 units – Board
7 – 11 October
Company Directors Course
Hyatt Regency Perth
DPD: 40 units – Core
Tuesday 15 October
Foundations of
Directorship Course
Strategy and Risk for Directors
Duxton Hotel, Perth
DPD: 8 units – Organisational
Wednesday 16 October
Tuesday 29 October Foundations of
Directorship Course
Governance for Directors
Duxton Hotel, Perth
DPD: 8 units – Organisational
Thursday 31 October Leader’s Edge Lunch
With Diane Smith-Gander
Bunbury
DPD: 5 units – Organisational
Tuesday 19 November
Foundations of
Directorship Course
Strategy and Risk for Directors
Duxton Hotel, Perth
DPD: 8 units – Organisational
Wednesday 20 November
Direct Connect Members Evening
PwC Offices
No DPD units applicable
21 – 27 November
Company Directors Course
for ASX300 Directors
Hyatt Regency, Perth
DPD: 40 units – Core
Tuesday 26 November
Future Series Briefing
Philanthropy
DPD: 5 units – Stakeholder
28 – 29 November
In Focus
Advanced Not-for-Profit
Governance
DPD: 20 units – Core
Wednesday 6 November
West End Series Briefing
Corporate Governance
DPD: 5 units – Organisational
Thursday 7 November
Emerging Directors’ Briefing:
Business Turnaround Case Studies
Rydges Perth
DPD: 5 units – Organisational
Foundations of
Directorship Course
Finance for Directors
Duxton Hotel, Perth
DPD: 8 units – Organisational
Thursday 17 October
Wednesday 13 November In Focus Course
Strengthening Financial
Governance
DPD: 10 units – Organisational
Leader’s Edge Lunch
With Diane Smith-Gander
Albany
DPD: 5 units – Organisational
2 – 6 December
Company Directors Course
Hyatt Regency, Perth
DPD: 40 units – Core
9 – 13 December
Indigenous Business Leaders
Company Directors Course
Hyatt Regency, Perth
DPD: 40 units – Core
Friday 13 December
Christmas Long Lunch
Hyatt Regency Perth
DPD: 5 units – Individual
20