Board Role and Membership
The role of the Board of Directors is generally to set objectives and goals for the operation of the Company, to oversee the Company's Management, to regularly review performance and to monitor the Company's affairs in the best interests of the Company.
For these responsibilities, the Board is accountable to its shareholders as owners of the Company.
The Board has approved a comprehensive Board charter governing its operation. Please click on the link below to view the full Board charter:
The Company's corporate objective is to invest in Australian equities with a focus on stocks where there is an active options market and provide shareholders with attractive investment returns through access to a steady stream of fully franked dividends and enhancement of capital invested.
In this regard the Company's primary goals are:
- to pay an enhanced level of dividends; and
- to provide attractive total returns over the medium to long term
The Board is comprised of a non-executive Chairman, Managing Director and 6 non-executive directors.
Selection of directors to fill vacancies, and their nomination for election at the next meeting of shareholders, is a matter for the Board on recommendation from the Nomination Committee. Matters considered by the Board include the Company's diversity needs, the ability of the director to contribute towards achievement of the Company’s goals, breadth of business experience and knowledge of the Australian investment scene.
BCom (Hons) (Melb), CPA, F Fin. Chairman and Independent Non-Executive Director. Chairman of the Investment Committee. Member of the Nomination Committee. Chairman of the Company’s associated entity, Australian Investment Company Services Limited (AICS).
Mr Paterson is a company Director who was appointed to the Board in July 2002, appointed Deputy Chairman in September 2009 and appointed Chairman in October 2013. He is also a Director of Australian Foundation Investment Company Limited (AFIC). He was formerly a Director of Goldman Sachs JBWere and is a former member of the Board of Guardians of Australia’s Future Fund.
Ross E Barker
BSc (Hons), MBA (Melb), F Fin. Managing Director and Member of the Investment Committee. Managing Director of the Company’s associated entity, Australian Investment Company Services Limited (AICS).
Mr Barker has been a Director of the Company since May 1998 and was appointed Managing Director in February 2001. He is also Managing Director of AFIC, AMCIL Limited and Mirrabooka Investments Limited. He is also Chairman of Melbourne Business School Ltd.
Robert J Edgar
BEc (Hons), PHD. Independent Non-Executive Director. Member of the Audit Committee
Dr Edgar joined the Board on 26 March 2015. Dr Edgar’s initial training was in Economics. He spent the majority of his business career at Australia & New Zealand Banking Group Ltd. He retired as Deputy Chief Executive Officer of the Bank in 2009. He is a Non-Executive Director of Transurban Limited and Linfox Armaguard Pty Ltd. He also serves as the Chairman of the Hudson Institute of Medical Research and was a former Chairman of Federation Centres Limited. He was also previously a Non-Executive Director of NuFarm Limited, Asciano Limited and three Asian Banks connected with the ANZ Group.
Kathryn J Fagg
BE (Hons), MCom (Hons). Independent Non-Executive Director. Member of the Nomination Committee
Ms Fagg joined the Board in May 2014. Her executive and professional roles have been broad and diverse. She started her career as a petroleum engineer. She became a management consultant and then held a number of senior executive positions in the banking, steel and logistics industries across Australia, New Zealand and Asia. Ms Fagg is currently a Board member of Reserve Bank of Australia and a Non-Executive Director of Incitec Pivot Limited and Boral Limited. She is President of Chief Executive Women, Chair of the Melbourne Recital Centre and Chair of the Breast Cancer Network Australia and was previously Chair of Parks Victoria. She also has a number of other significant interests including as a Fellow of the Academy of Technological Sciences and Engineering where she chairs the Industry and Innovation Forum.
Kathryn has been awarded Honorary Doctorates by the University of New South Wales in Business and in Chemical Engineering by the University of Queensland.
Graham B Goldsmith
B Bus (Acctg), FCPA, FAICD, F Fin. Independent Non-Executive Director. Member of the Investment Committee.
Mr Goldsmith was appointed to the Board in April 2013. He is a Non-Executive Director of SEEK Limited and of Zhaopin Limited, Chancellor of Swinburne University of Technology and a Panel Member of Adara Partners. Mr Goldsmith is a former Vice Chairman and a former Managing Director of Goldman Sachs Australia, and its predecessor firm Goldman Sachs JBWere.
Andrew F Guy
LLB, MBA. Independent Non-Executive Director. Chairman of the Audit Committee. Member of the Investment Committee and the Nomination Committee. Director of the Company’s associated entity, AICS.
Mr Guy is a company Director who was appointed to the Board in December 1989. He is a Director of Infrastructure Specialist Asset Management Limited and Chairman of Victoria Legal Aid.
Graham J Kraehe AO
B Econ (Adel). Independent Non-Executive Director. Chairman of the Nomination Committee. Member of the Audit Committee and Investment Committee.
Mr Kraehe is a company Director who was appointed to the Board in July 2002. He is a former Chairman of BlueScope Steel Limited, Brambles Limited, National Australia Bank Limited and a former Director of News Corporation Limited and the Reserve Bank of Australia. He is also a former Managing Director and Chief Executive Officer of Southcorp Limited.
Alice J M Williams
B.Com, FCPA, FAICD, CFA, ASFA AIF. Independent Non-Executive Director. Member of the Audit Committee.
Ms Williams was appointed to the Board in May 2010. Ms Williams is a Director of Victorian Funds Management Corporation, Equity Trustees Limited, Cooper Energy, and Defence Health. She is also a Non-Executive Director of Racing Victoria Limited, Barristers Chambers Limited and Foreign Investment Review Board (FIRB).
She was formerly a Director of Port of Melbourne Corporation, Guild Group, Airservices Australia, State Trustees Limited, Western Health, the Australian Accounting Standards Board, Telstra Sale Company and V/Line Passenger Corporation. She previously held senior management positions in the financial services sector including NM Rothschild and Sons (Australia) Limited and JP Morgan Australia.
Karen J Wood
B Ed; LLB (Hons). Independent Non-Executive Director
Ms Wood was appointed to the Board in July 2016. She is a former senior executive of BHP Billiton. During her executive career with that company she served in a number of roles including as Group Company Secretary and leading the People and the Corporate Affairs functions. She retired from BHP Billiton in 2014. She currently serves as Chairman of the BHP Billiton Foundation. She served on the Takeovers Panel from 2000 to 2012.