Ann: Change of Director's Interest Notice - Nicki Anderson, page-4

I share your sentiment on Directors shareholding, especially Non Executive Directors, unlike Executive Directors that participate in performance-related incentive awards. Interestingly, following a review which identified that GrainCorp director fees were below the median level of the market, the Board approved an increase in fees for FY23 'to allow GrainCorp to remain competitive in retaining and attracting experienced and capable directors in the market.'

There have been three recent insider trades by Independent Non-Executive Directors, two of which are recent appointments:



This is the current compensation and ownership levels of the board and leadership team, which clearly shows that those incentivised have a greater stake in the business:



I am not qualified to comment on Nicole Anderson's credentials or her effectiveness. It is not uncommon for Directors to hold more than one position. Here is her profile; I'll leave it to others to pass judgement:

Profile

Ms. Nicole Elizabeth Anderson, alsoknown as Nicki, EMBA, MBA, BBus GAICD, had been an Independent Director atToys"R"Us ANZ Limited since October 25, 2018 until August 31, 2022.She served as Non-Executive Chairman of the Board and Non-Executive Director atHealth and Plant Protein Group Limited since May 17, 2021 until August 4, 2021.She served as an Independent Non-Executive Director at Select Harvests Limitedsince January 21, 2016 until February 25, 2022. She serves as IndependentNon-Executive Director at GrainCorp Limited since October 1, 2021. She is aNon-Executive director of the Australian Made Campaign Limited, Prostate CancerFoundation of Australia. Ms. Anderson is an accomplished leader and directorwith experience in strategy, sales, retailing, marketing, licensing andinnovation within branded food, beverage and consumer goods businesses both inAustralian and internationally (including Coca Cola Amatil, Cadbury Schweppes,Nestle and Kraft). Ms. Anderson has held senior positions in marketing andinnovation within world class FMCG companies and was most recently ManagingDirector within the Blueprint Group concentrating on sales, marketing andmerchandising within the retail and pharmacy sales channels. She has anExecutive MBA from AGSM, a Bachelor of Business and is a graduate of theAustralian Institute of Company Directors. Ms. Anderson is currently a Directoron the Board of Ms Mac’s, Australia Made Campaign Limited, Skills Impact and isFormer Chair of the Monash University Advisory Board for the marketing faculty.