Financial Report Template Page 9
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80CORPORATE GOVERNANCE STATEMENT
(CONT)
Principles and Recommendations
Comply
Principle 2 – Structure the Board to add value (continued)
2.2
A listed entity should have and disclose a board
The following skills, knowledge and experience have
Complies.
skills matrix setting out the mix of skills and
been identified as those that are required for the
diversity that the board currently has or is
effective management of the Shine Group:
looking to achieve in its membership.
• Strategy and executive leadership skills
• Legal, insurance and service industry experience
• Mergers & acquisitions experience
• Governance and financial acumen
• Innovation and technology
• Strategic marketing
• Global expansion experience
Shine has developed an internal skills matrix identifying
the skills and experience of its Board of Directors to
identify professional development requirements and
to assist the Board when considering its size and
composition. The Board currently possesses a
good blend of these skills and attributes.
2.3
A listed entity should disclose:(a) the names
The Group currently has a five member Board,
Complies.
of the directors considered by the board to
of which three are independent non-executive
be independent directors;
directors. Together, the directors have a broad range
of experience, expertise, skills, qualifications and
(b) if a director has an interest, position,
contacts relevant to the Group and its business.
association or relationship that may cause
The date of appointment of each director is disclosed
doubt about the independence of the
in the annual report and on the Company’s website.
director but the board is of the opinion that
it does not compromise the independence
of the director, the nature of the interest,
position, association or relationship in
question and an explanation of why the
board is of that opinion; and
(c) the length of service of each director.
2.4
A majority of the board of a listed entity should
Three of the five Board members are considered
Complies.
be independent directors.
to be independent – Tony Bellas, Carolyn Barker
and Greg Moynihan.
2.5
The chair of the board of a listed entity should
The Chairman, Tony Bellas, is an independent
Complies.
be an independent director and, in particular,
non-executive director.
should not be the same person as the CEO
of the entity.
2.6
A listed entity should have a program for
The Company provides all new Directors with a
Complies.
inducting new directors and provide appropriate
Board Handbook. A policy exists encouraging all
professional development opportunities for
Directors to undertake continuing professional
directors to develop and maintain the skills and
development activities each year and to join
knowledge needed to perform their role as
appropriate professional associations in order to
directors effectively.
continually develop and enhance their respective levels
of industry knowledge, technical knowledge and other
skills required to discharge their role effectively.
Principle 3 – Promote ethical and responsible decision making
3.1
A listed entity should:
Shine has a code of conduct for Directors, senior
Complies.
executives and employees, which sets out a framework
(a) have a code of conduct for its directors,
to enable directors to achieve the highest possible
senior executives and employees; and
standards in the discharge of their duties and to give
(b) disclose that code or a summary of it.
a clear understanding of best practice in corporate
governance. The Code of Conduct is available on
the Company’s website.
7
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