Governance news from Minter Ellison
There were a number of board-related articles in the Australian press this week, including on Ian Dunlop’s campaign to acquire a BHP Billiton board seat; the sanctioning by proxy advisers of David Crawford’s re-election to BHP Billiton’s board despite having already served for 19 years; the difficulties surrounding a board’s removal of an underperforming director; the decision by Leighton Holdings’ board to conduct an internal review of alleged kickbacks; and the proposed ASX governance guideline requiring ‘appropriate checks’ for new directors.
Overseas, two Canadian experts have urged boards to adopt a ‘more active role’; an article suggests ways for boards to bridge the gap between directors and shareholders; and the role for boards in senior executive compliance was discussed.
Also this week, board gender diversity received a lot of media attention, with GrainCorp’s chief executive officer calling for greater gender diversity in the agribusiness sector; the chief executive officer of the Australian Coal Association asserting that ‘[q]uotas do a disservice to women’; EY outlining practical steps to increase the representation of women on boards; an academic exploring some of the differences between the Australian and US forces pushing for more women on boards; and the French government announcing plans to effectively punish companies that fail to meet gender equality standards…
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News from Minter Ellison
Briefings from Minter Ellison
The Economics Committee conducting the inquiry into the performance of ASIC will address the role, structure and responsiveness of the regulator.
On 24 March, the Organisation for Economic Co-operation and Development issued BEPS Action 1: Address the Tax Challenges of the Digital Economy.