Over recent years the Board has committed to a process to improve member engagement and ensure that a suitable governance framework is implemented and maintained. As part of an ongoing commitment to effective corporate governance, the REIQ Board is proposing some important Constitutional changes to improve diversity in the board room and to ensure that our board framework is well suited to current day Board requirements and effective decision making.
Eligible members will have the opportunity to vote on these proposed changes at an Extraordinary General Meeting on 29 June, 2018.
What are the changes?
The current Constitution mandates that our Board must include six Member Directors and that two of those must be Regional Member Directors.
The proposed changes that will take place by 2020 and will result in the Board comprising:
- 1 Regional Member Director
- 1 Female Regional Member Director
- 1 Young Director
- 1 Female Director
- 2 Member Directors of any age, gender and geographic location.
The Constitution also permits the Board to appoint up to three non-Member Directors.
These changes will ensure that the diversity of our membership is reflected in the make-up of the Board of Directors. Board diversity also plays an important role in improving decision making and lifting organisational performance
In addition, the proposed changes include the introduction of a new Deputy Chair role to perform internal governance functions such as running meetings of the Board in accordance with legislative requirements and modern day corporate governance requirements. The existing Chair role will remain but its focus will be predominantly outward facing and will include duties such as member and stakeholder relations and engagement.
Chairman Peter Brewer shares his thoughts on these proposed changes in this opinion piece here.
How to vote:
Eligible members will have received a link and instructions on how to vote via email or post, depending on their mail preferences. This information pack also includes an explanatory note outlining the changes in greater detail and a link to the proposed Constitution.
Eligible members can vote in person or nominate a proxy via the link sent in that email or snail mail. If you haven’t received the email, or no longer have access to that material, contact REIQ Company Secretary Sean Roberts E: SRoberts@REIQ.com.au.