RE: Getting House in Order28 Mar 2024 06:39
'The Company’s Nomination Committee (or, in its absence, the
Board) is responsible for evaluating the performance of the
Company’s senior executives on an annual basis. The
Company’s Remuneration Committee (or, in its absence, the
Board) is responsible for evaluating the remuneration of the
Company’s senior executives on an annual basis. A senior
executive, for these purposes, means key management
personnel (as defined in the Corporations Act) other than a non executive Director'.
Only thing wrong with that is they don't have a nominations committee, so effectively they decide between themselves if they are doing a good job and they decide how much to pay themselves.