GWR Group Limited has outlined its commitment to corporate governance and gender diversity, including the establishment of measurable objectives and the review of its policies to align with diversity goals. The company has disclosed its diversity policy and the progress towards achieving gender diversity in its board, senior executive positions, and workforce.
Material Actions and Disclosures
The company has established measurable objectives for achieving gender diversity and has reviewed its policies to align with the diversity policy. It has compiled a summary of staff including gender and cultural diversity and encourages an open selection process focusing on relevant skills. The company also has a remuneration charter which encourages transparent rewards.
The company has a formal process for the evaluation of the effectiveness, processes, and structure of the Board, and complies with Recommendation 1.6 of the Corporate Governance Council. The Board undertakes an annual formal review of its performance, although this process has not taken place during the financial year.
The company has a formal Code of Conduct and Whistle-blower Policy, both available on the company’s website. The company also has an Anti-bribery and Corruption Policy, which is made available on the company’s website.
The company has established an Audit and Risk Management Committee to assist with the process of risk oversight. However, it is not chaired by an independent director and is not comprised of a majority of independent directors, leading to non-compliance with Recommendation 4.1 of the Corporate Governance Council.
The company does not have an internal audit function and employs processes for evaluating and continually improving the effectiveness of its governance, risk management, and internal control processes.
The company has disclosed whether it has any material exposure to environmental or social risks and how it manages or intends to manage those risks.
The company does not have a remuneration committee that satisfies the requirements of the Corporate Governance Council, leading to non-compliance with Recommendation 8.1.
The company has a formal induction process for new Directors appointed to the Board, providing them with written material incorporating Financial, Corporate and Operating information in relation to the Company.
The company’s Board is comprised of three Non-executive Directors, with the company believing that there is an appropriate mix of skills, experience, expertise, and diversity on the Board at this stage of the Group’s development.
The company has disclosed its compliance with each of the recommendations contained in the 4th Edition of the ASX Principles and Recommendations, disclosing reasons for non-compliance where necessary.
The company’s Corporate Governance Statement is available at: https://gwrgroup.com.au/about-us/corporate-governance/