Gale Pacific Limited has updated its corporate governance and diversity policies, aiming to maintain a balanced board composition and promote workforce diversity. The company has set measurable objectives for achieving gender diversity, including maintaining women’s representation at 25% on the board and increasing women’s representation in the total workforce to 40%. The company also has a Diversity and Inclusion Policy that requires the Board and Senior Management to promote specific diversity objectives.
Material actions and disclosures
The company has a formal Audit and Risk Committee comprising three independent directors, chaired by Peter Landos. The committee reviews the Group’s risk management framework and policies, ensuring that management has developed and implemented a sound system of risk management and internal control. The company also has a Whistleblower Policy and an Anti-Bribery and Corruption Policy, both of which are available on the company’s website.
The company’s Board Charter sets out the respective roles and responsibilities of the Board and management, and outlines the Board’s policy on when and how directors may seek independent professional advice at the expense of the company. The company also provides security holders with all material information relevant to a decision on whether or not to elect or re-elect a director.
The company’s Remuneration and Nomination Committee undertakes checks on a candidate for the role of director and seeks confirmation from the candidate that they will have sufficient time to fulfil their responsibilities as a director. The company also provides information to shareholders about directors seeking election or re-election at general meetings to enable them to make an informed decision.
The company’s financial statements are reviewed by the Board and the Chief Executive Officer and Chief Financial Officer are required to declare in writing to the Board that the Group’s financial reports present a true and fair view, in all material respects, of the Group’s financial condition and operational results and are in accordance with relevant accounting standards.
Forward commitments
The company aims to increase women’s representation in the Executive Team to 20% and conduct an annual review of remuneration for key roles within the Group to identify and address any gender pay gaps.
Gale Pacific Limited is committed to conducting its business in an ethical manner and in accordance with the highest standards of corporate governance. The company has adopted and complies with the ASX Corporate Governance Principles and Recommendations to the extent appropriate to the size and nature of the Group’s operations.
The information provided in this article is based on the company’s announcement and verified ESG fact pack.