Archived News for Executives and Senior Management - October, 2011
The Australian Council of Superannuation Investors has published its Anti-corruption and Bribery Practices in Corporate Australia: A review of the S&P/ASX200 research paper, investigating the risk of bribery in Australia's top 200 listed companies.
The research report commissioned by ACSI and produced by CAER (Corporate Analysis Enhance Responsibility) provides a snapshot of exposure to bribery and corruption risk across ASX200 companies, focussing on those with operations in high-risk sectors and/or high-risk countries.
The paper found that:
- The number of ASX100 companies operating in a sector or country deemed high-risk for corruption has increased from 56% in 2006 to 75% in 2011;
- ASX100 companies lag the top 100 companies (by market cap) from the UK, US and Europe in prohibiting the giving and receiving of bribes; and
- 126 ASX200 companies operating internationally are exposed to a high-risk sector, country or both, but 40% of these companies have no public policy that prohibits bribery or facilitation payments
Myer has announced that its chief executive Bernie Brookes’ remuneration has fallen after the retail giant failed to meet its incentive targets. Mr Brookes’ received $1.63 million for the year, only up slightly from last year.
The Australian Shareholders’ Association (ASA) has called for adjustments to be made to the executive pay laws, arguing that loopholes exist within the current policy framework.
The director of the Workplace Gender Equality Agency (WGEA), Helen Conway, has publically warned of impending action on equality if women continue to be kept from board and executive roles.
The Federal Minister for Broadband, Communications and the Digital Economy Stephen Conroy and the Minister for Finance and Deregulation Senator Penny Wong have announced Brenden Fleiter as the new Director of the Australia Post Board.
ANZ has announced the appointment of Alistair Currie as the banking group’s new Chief Operating Officer, with overall responsibility for technology, shared services and operations , including ANZ’s Bangalore, Manila and Chengdu hubs.
The Federal Government has announced its intentions to focus more strongly on gender diversity in the employment practices of key government bodies, including the NBN Co and Australia Post.
The Federal Government has announced Jillian Broadbent will chair an exprt review that will advise the government on the design of the $10 billion Clean Energy Finance Corporation, which will be tasked with providing a new source of finance for renewable energy, energy efficiency and low emissions technologies.
Recruitment specialist Hays has published the October Quarterly report, finding that demand for senior executives is growing, showing an increased demand for talent to drive business in a strategic manner.
The Society for Knowledge Economics (SKE) has released a two year study into leadership and management capability, finding that progressive and innovative leadership and sound management are key to boosting Australia's productivity.