Board Role

The role of the Board of Directors is generally to set objectives and goals for the operation of the Company, to oversee the Company's Management, to regularly review performance and to monitor the Company's affairs in the best interests of the Company.

For these responsibilities, the Board is accountable to its shareholders as owners of the Company.

The Board has approved a comprehensive Board charter governing its operation. Please click on the link below to view the full Board charter:

Board charter

The Company's corporate objective is to invest in Australian equities with a focus on the top 50 ASX companies by market capitalisation with the goal of providing shareholders with investment returns through access to a steady stream of fully franked dividends and increase in the value of capital invested.

In this regard the Company's primary goals are:

- to pay an enhanced level of dividends; and
- to provide attractive total returns over the medium to long term

Board Membership

The Board is comprised of a non-executive Chairman, Deputy Chairman, Managing Director and 4 non-executive directors.

Selection of directors to fill vacancies, and their nomination for election at the next meeting of shareholders, is a matter for the Board as a whole. Matters considered by the Board include the ability of the director to contribute towards achievement of the Company’s goals, breadth of business experience and knowledge of the Australian investment scene.

The directors meet formally as a Board at least eleven times per year. Additional commitment of time is required for committee meetings described below.


Board Profiles

Bruce B Teele

BSc BCom (Melb). Chairman and Non-Executive Director. Chairman of the Investment Committee. Member of the Nomination Committee.

Mr Teele has been Chairman of the Company since commencement of operations in 1989. He is also Chairman of Australian Foundation Investment Company Limited (AFIC) and AMCIL Limited and is a Director of The Myer Family Company Ltd. He was formerly the Executive Chairman of the JBWere Group.

Ross E Barker

BSc (Hons) MBA (Melb) F Fin. Managing Director and Member of the Investment Committee. Director of the Company’s associated entity, Australian Investment Company Services Limited (AICS).

Mr Barker has been a Director of the Company since December 1989 and was appointed Managing Director in February 2001. He is also Managing Director of AFIC, AMCIL Limited and Mirrabooka Investments Limited.

Peter Barnett

FCPA. Independent Non-Executive Director.

Mr Barnett is a company Director who was appointed to the Board in October 2007. He is a Director of AMCIL Limited. He is a former Director of Mayne Group Limited and Santos Limited and a former member of the advisory council of ABN Amro Australasia Limited.

Terrence A Campbell AO

BCom (Melb). Non-Executive Director. Member of the Investment Committee.

Mr Campbell has been a Director since November 1989. He is Senior Chairman of Goldman Sachs & Partners (Australia) Pty Ltd (formerly Goldman Sachs JBWere) and was formerly Chairman and Chief Executive of Goldman Sachs JBWere. He is also Chairman of Mirrabooka Investments Limited, Deputy Chairman of AFIC and a Director of AMCIL Limited.

Andrew F Guy

LLB MBA. Independent Non-Executive Director. Chairman of the Audit Committee. Member of the Investment Committee and the Nomination Committee. He is also a Director of the Company’s associated entity, AICS.

Mr Guy is a company Director who was appointed to the Board in December 1989. He is a Director of an ANZ responsible entity and trustee, ANZ Specialist Asset Management Limited. He is a former Director of Aviva Australia Holdings Limited and PaperlinX Limited and a former Partner and Managing Partner of Arthur Robinson & Hedderwicks (now Allens Arthur Robinson).

Graham J Kraehe AO

B Econ (Adel). Independent Non-Executive Director. Chairman of the Nomination Committee. Member of the Audit Committee.

Mr Kraehe is a company Director who was appointed to the Board in July 2002. He is Chairman of BlueScope Steel Limited and Brambles Limited and a Director of the Reserve Bank of Australia. He is a former Chairman of National Australia Bank Limited and a former Director of News Corporation Limited. He is also a former Managing Director and Chief Executive Officer of Southcorp Limited.

John Paterson

BCom (Hons) (Melb) ASA F Fin. Deputy Chairman and Independent Non-Executive Director. Member of the Audit Committee, the Investment Committee and the Nomination Committee. Chairman of the Company’s associated entity, AICS.

Mr Paterson is a company Director who was appointed to the Board in July 2002 and appointed Deputy Chairman in September 2009. He is also a Director of AFIC. He was formerly a Director of Goldman Sachs JBWere and is a former member of the Board of Guardians of Australia’s Future Fund.

Alice J M Williams

B.Com, FCPA, FAICD, CFA. Independent Non-Executive Director. Member of the Investment Committee.

Ms Williams was appointed to the Board in May 2010. Ms Williams is a Director of Equity Trustees Limited, Victorian Funds Management Corporation, Guild Group and Defence Health and is a council member of Cancer Council Victoria. She was formerly a Director of Airservices Australia, State Trustees Limited, Western Health, the Australian Accounting Standards Board, Telstra Sale Company and V/Line Passenger Corporation. She previously held senior management positions in the financial services sector including NM Rothschild and Sons (Australia) Limited and JP Morgan Australia.