Industry braces for majority independent directorsBY JAMES FERNYHOUGH | SUNDAY, 7 DEC 2014 2:10PMSuperannuation fund boards should comprise a majority of independent directors including an independent chair, David Murray has recommended in the Financial System Inquiry final report. Related News |
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Hugh Killen
MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER
AUSTRALIAN AGRICULTURAL COMPANY LIMITED
AUSTRALIAN AGRICULTURAL COMPANY LIMITED
For Hugh Killen, several life lessons came from spending time on pastoral properties stretching across northern New South Wales and South-West Queensland.
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Independent directors can be unaccountable fee drawing passengers on Trustee Boards unless they become accountable to super fund beneficiaries. The Governance Institute of Australia of which I am a member made a similar proposal.
There is a discussion on this topic at the Symposium I have organised on "The efficacy of government enforced governance" tomorrow, Monday December 8th in the Central Lecture Block of the University of NSW from 4:00 to 5:30 pm. You can register at: https://www.business.unsw.edu....
Other speakers beside myself are Gerard Noonan, Chair of the Australian Council of Superannuation Investors and Tim Sheehy, CEO of the Governance Institute of Australia. Hope to see you there.
Everyone should read Judith Sloan's article in the weekend Australian inquirer page 20.