Airways Corporation of New Zealand Limited Annual Report 2018 2019
Governance at Airways CONTINUED
Directors’ attendance The Board held ten meetings during the year ended 30 June 2019. Board committees also met regularly throughout the year to consider matters relevant to, and required by, their terms of reference. Director attendance at these Board and committee meetings is set out in the table below:
CHAIR AND CEO’S REVIEW
People, Culture & Capability Committee
INVESTING IN THE FUTURE
Audit and finance committee
Board meetings
Safety committee
INTEGRATING DRONES INTO OUR AIRSPACE
Total meetings held
10
4
5
5
5 of 5
1^
3 of 3
2 of 2
Denise Church +
Darin Cusack
10
5
Mary-Jane Daly
9
4
4
AIRWAYS INTERNATIONAL
5 of 5
3 of 3
1 of 1
John Holt +
5 of 5
2 of 2
Paula Jackson +
6 of 6
2 of 2
Lisa Jacobs +
SUSTAINABILITY
Bennett Medary
10
4
5
Mark Pitt
10
5
AIRWAYS BOARD OF DIRECTORS
Judith Kirk*
5 of 5
1 of 2
3 of 3
Chris Moxon*
4 of 4
1 of 1
* retired directors + new directors ^ directors are not standing members of the Committee but still attended. Formal Committee membership is detailed on the previous page. External audit The OAG appoints external auditors annually, following consultation with the Board. External audit’s primary line of communication with Airways is through the Audit and Finance Committee (AFC), who review: the proposed audit scope and approach (to ensure there have been no restrictions placed on it); the results of the audit and management’s responses to audit findings; and the auditors’ performance. External auditors are required to maintain independence from Airways and this is reviewed by the AFC continuously through the audit cycle. Lead audit partners are also rotated every six years, in line with OAG requirements. Annually, the Board meet the external auditors without management present to ensure they have no issues or concerns the Board needs to be made aware of. Safety, internal audit and assurance The Safety and Assurance team provides the CEO and Board with assurance that Airways is meeting its governance and operational requirements, and that risks are managed through planning and delivering the annual audit programme. They are also responsible for championing practise improvements across Airways that deliver increases to business performance, financial performance and/or stakeholder satisfaction. The Safety and Assurance team is also responsible for providing an effective Safety Management System (SMS) that allows the business to manage operational and people safety on a risk prioritised basis. The team, utilising the SMS, provides assurance to the Board, CEO and business that safety risks are being effectively and appropriately managed. Management, with support from the Safety and Assurance team, are responsible for developing and supporting a just, free and open reporting culture within Airways. Remuneration The Board and management are committed to remuneration practices that are fair, transparent and appropriate, and which contribute to strong governance and company performance. This starts with the Board People, Culture & Capability Committee (whose responsibilities are outlined above) and is captured in Airways’ Remuneration Policy. Director remuneration is fixed at levels agreed with the Shareholder on an annual basis. Levels of remuneration are set out in the Additional Financial Information section above.
FINANCIALS
FINANCIAL PERFORMANCE
PERFORMANCE AND PROGRESS AGAINST SCI METRICS
FINANCIAL STATEMENTS
EVA KEY PERFORMANCE INDICATORS
ADDITIONAL FINANCIAL INFORMATION
GOVERNANCE AT AIRWAYS
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