Nomination And Remuneration
The ASXCGC recommends the appointment of two separate committees for Nomination and Remuneration.
However, The Board has a combined Nomination and Remuneration Committee with the two distinct roles and which it considers appropriate for the size of the company.and the fact that the two separate purposes of the committee are interrelated.
The non-executive members of the Nomination and Remuneration Committee are:
Maxwell Cowley (chair), Michael Givoni, Ross Johnston and Paul Teisseire.
Executive directors Mark Foley and Mark Lowe attend the Remuneration Committee considerations and may be invited to attend Nomination Committee discussions.
The ASXCGC recommends that the chair of the committee be independent. Max Cowley is not considered independent because he is a director of the major substantial shareholder in BSA. The reason for this departure is one of practicality. The board considers that of the current directors, Max has the most appropriate skills to undertake the role of chair of this committee.
The role of the Nomination and Remuneration Committee is to identify and nominate new directors to the Board, determine the Company's remuneration plans, policies and practices, including compensation arrangements for the non-executive directors, executive directors, managing director and senior executives. It is also responsible for considering general remuneration policies and practices, recruitment and termination policies and superannuation requirements.
There are no retirement schemes or retirement benefits other than statutory benefits for non-executive Directors.