XXXXX GO VITA GROUP LIMITED CORPORATE GOVERNANCE STATEMENT
(b) Obtaining collaboration and support for these strategic objectives from the membership; (c) Monitoring and reviewing the activities undertaken towards the Company’s strategic objectives; and (d) Reporting regularly to members as to the achievement of goals associated with delivery of strategic objectives. The Board communicates with its Shareholder/members in a variety of ways throughout the year and regularly references the strategic objectives of the Go Vita Group. The AGM, the annual conference, and member meetings provide formal opportunities to engage with the Shareholder/members. These have been conducted online in recent times as a result of COVID. In addition, regular communication occurs through a member Facebook group and regular emails. VitaCloud has recently been introduced which will play a lead role as a regular communication channel. PRINCIPLE 2 LAY SOLID FOUNDATIONS FOR MANAGEMENT AND OVERSIGHT Go Vita Group establishes and discloses the respective roles and responsibilities of its Board and management and how their performance is monitored and evaluated. The relationship between the Board and senior management group is critical to the Company’s long-term success. The Board is responsible for the performance of the Company in both the short and longer term and seeks to balance sometimes competing objectives in the best interests of the Company as a whole. The key aims of the Board are to ensure that the Company is properly managed to mitigate risk and has an appropriate corporate governance structure to ensure the creation and protection of members’ value. The role and responsibilities of the Board, the Chair and individual Directors are set out in the Company’s Corporate Governance Charter. A copy of this Charter is available on VitaCloud.
OVERVIEW The Board of Go Vita Group Limited (Go Vita Group, the Company) governs the business on behalf of its members/shareholders with the prime objective of protecting and enhancing member/shareholder value. The Board is committed to the highest standards of ethics and integrity and ensures that the senior management group runs the Company in accordance with these standards. This Corporate Governance Statement is for the information of the shareholders/members on whose behalf the Board operates. The statement has been approved by the Board and outlines the main corporate governance practices employed by the Company. As a proud cooperative in the health and wellness industry, the Company endorses the Co-operative and Mutual Enterprise (CME) Governance Principles developed by the Business Council of Co-operatives and Mutuals (BCCM) in partnership with the CME 100 Chairs’ Forum. These Principles and Recommendations were released in July 2018 and a copy can be accessed at bccm.coop/what-we-do/governance-principles. Where the Company has not adopted a particular recommendation, a detailed explanation is provided. This statement is current as at 30 September 2021. PRINCIPLE 1 CREATE, PROTECT AND RETURN MEMBER VALUE Go Vita Group acts on behalf of its members to achieve its agreed purpose by pursuing the sustainable creation, protection and return of value to current and future members. The Board is responsible for: (a) Developing a clear set of strategic objectives designed to ensure the sustainable creation, protection and return of value for current and future members, consistent with its governing documents, purpose and primary activities;
I GO VITA GROUP LIMITED ANNUAL REPORT 2020-2021 36
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