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Unformatted text preview: f Executive Officer roles are performed by the same person for a portion of the year.
Best practice recommends that the roles not be exercised by the same person, and that the Chairman be an
independent director. b) The Audit Committee consists of the three members of the board. The committee is chaired by an
independent non-executive director, however, does not meet best practice guidelines of having only nonexecutive directors as members.
These exceptions listed above were for the whole of the financial year with the exception of (a) which was for the
period 29 November 2010 to 30 June 2011. The exceptions are due to the Chairman not being independent. The
board believes that notwithstanding this, the board (and Audit Committee) is able to, and does, make quality,
independent judgements with integrity, in the best interests of the Company and its shareholders, on all relevant
issues. The directors of the board are also able to obtain independent advice at the expense of the Company. The
board believes the Chairman is capable of providing quality, independent judgement to all relevant issues falling
within the scope of his role, notwithstanding the dual role. 9 Wellcom Group Limited
Corporate Governance Statement For personal use only The board believes that the current composition of the board provides the Company with...
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- Spring '14