NSW Farmers supports release of AWI Plan
NSW Farmers’ Association support Australian Wool Innovation (AWI) implementing all 82 of EY’s performance and governance recommendations without delay.
Andrew Wood, Chair of the NSW Farmers’ Wool Committee, said he supports comments made by Minister Littleproud last week demanding AWI release its implementation plan by the 19th of October.
“It was great to see Minister Littleproud throw his support behind growers” Mr Wood said.
“These important reforms will build on the success of AWI and enhance the programs and professional management of the company. Delaying the implementation of these recommendations could compromise the required changes identified in the review”.
“As growers fund AWI they are entitled to know how the board will respond to the recommendations affecting their company. They will get frustrated the longer the reform process takes”.
Mr Wood stressed that no recommendation should be overlooked.
“The last AWI review showed that there is a risk that if the recommendations aren’t adopted in a timely manner, then they may not be adopted at all.”
As a modern, multimillion dollar, global organization it is important that AWI’s corporate governance reflects a new level of professionalism.
“The EY recommendations reflect what would be expected of any similar sized organization, they are not too onerous, nor too lenient. They focus on promoting good corporate governance and best practice through independence, transparency and accountability”.
“For AWI to remain a market leader in wool marketing and research it needs to continually improve”.
“Implementing EY’s recommendations will allow AWI to become a 21st century company that will benefit growers and industry alike”.
Date: Thursday 13 September 2018
Media Contact: Michael Burt | 0428 228 988