Has anyone actually read the ann about Ms Edwardes appointment closely?
The ann states Ms Edwardes is a NON EXECUTIVE appointed Chair! Does anyone understand the difference between an executive Chair and a non-executive Chair?
Although it's a US citation as I understand it the Oz model for governance is more or less mirrored (happy to be corrected (caveat...with verifiable information...not worthless anonymous agenda driven opinion!):
"Role of the Chairman of the Board
A non-executive chairman of the board does not occupy a management position in the company. The chair operates independently from the company, receives plans and proposals from the CEO, through the corporate secretary, and presents these to the board for approval. In the case of a chair who is also CEO, the approval process is less independent because the board is receiving direction from the person who submitted the proposals rather than from an independent supervisor.
In 2008, the U.S. National Association of Corporate Directors conducted a survey that found 73 percent of directors serving on boards with an independent chair believed that companies greatly benefit from this model, while about 7 percent maintained that companies do not benefit from it."
Seems to me therefore our extraordinarily gifted new Chair (her CV speaks for itself) is here not to lead the Co's operations (support sure...but not lead...thankfully leadership remains with our highly vested co-founders). Her priority here is her INDEPENDENT oversight of the Co's duties to SHs in satisfaction of the ASX/ASIC rules of governance as well as the requirements of the Corporations Act and the law generally affecting public companies. The Co had dutifuly reported this previous governance shortcoming by notice to ASX in full compliance of the rules in case any one missed that. The issue is now remedied.
So I ask myself why the...let's call them "critics" (for the sake of no-moderation and saving me the trouble of having to repost this) might have anything negative to say about a former State Attorney General appearing unfit or unnecessary to carry out the role of a NON executive Chair...far as I can see unless we have a definitional crisis re ASX/ASIC compliance here...there isn't much left to say...now is there?
(20min delay)