AWF Group was established in 1988 by Simon Hull, who remains in the Group as Managing Director, and listed on the New Zealand Stock Exchange (NZX) in 2005.
The Board of Directors of AWF Group Limited is responsible for the corporate governance of the Company. The term “corporate governance” is generally understood to mean the control of the business by the Directors and the accountability of the Directors to shareholders and others, for the performance of the Company and compliance by the Company with laws and standards.
This statement sets out the corporate governance policies, practices and processes followed by the board throughout the year.
The Board is elected by the shareholders of the Company. At each annual meeting, one third of the Directors will retire by rotation. The Directors to retire are those who wish to retire, or those who have been longest in office since last being elected. The Board establishes the Group’s objectives, major strategies for achieving these objectives, the overall policy framework within which the business of the Group is conducted, and monitors management performance with respect to these matters. The Board has delegated the day-to-day management of the Group to the Chief Executive Officer, Mike Huddleston.
The Company’s Constitution sets out the policies and guidelines for the operation of the Board including the appointment and removal of Directors.
Ross Keenan (Chairman) and Eduard van Arkel have been determined as independent Directors as defined in the NZX listing rules.
Finance and Audit Committee
The Finance and Audit Committee assists the Board in ensuring the Group’s compliance with the Companies Act 1993 and the Financial Reporting Act 1993. The committee reviews the audit of the Group’s financial statements and ensures qualitative financial reporting to shareholders.
The objective of the Remuneration Committee is to establish remuneration policies and practices that attract, retain and motivate executives and directors. The committee ensures that executives and directors are rewarded having regard to the Group’s performance.
The Company has adopted a code of conduct for share dealing by directors and employees that ensures compliance with the Securities Act 1988.
NZX Corporate Governance Best Practice Code
The Company’s corporate governance policies comply with the NZX Corporate Governance Best Practice in all respects.
Driving strategic growth of The Group
AWF Group Ltd is independently Chaired by Ross Keenan who joined the board at the time of its listing. Ross has considerable corporate governance experience and is presently: Chairman of Ngai Tahu Tourism and Watercare Services Ltd and Director of Ngai Tahu Holdings Corporation and Ngai Tahu Seafoods Ltd.
Fellow Director Eduard (Ted) Van Arkel also joined the AWF board at time of listing. Ted has a wealth of governance experience and presently holds positions including: Chairman of Restaurant Brands NZ Ltd and Health Benefits Limited and Director of Nestle, The Warehouse, Abano Healthcare, Auckland Regional Chamber of Commerce as well as a number of other leading companies and entities.
The day to day management of AWF Group and its subsidiaries lies with Mike Huddleston, Director and Chief Executive Officer. Mike has a wealth of experience in senior management roles with both NZ and international companies both here and overseas.
Annual and Half Yearly Financials