Lecturer:

  • Category:
    Business
  • Document type:
    Assignment
  • Level:
    Masters
  • Page:
    1
  • Words:
    396

Billabong International Limited

Lecturer:

Billabong International Board of directors

Billabong International Limited is an Australian multinational textile and fashion wear company with operations in more than 100 countries worldwide. The company’s core businesses encompass production, distribution, and sale of clothing, board-sports items, eyewear, and wetsuits (Billabong International Limited 2013).

At Billabong International Limited, the Board of Directors is entrusted with the roles of ensuring organisational performance and maintenance of high corporate governance standards that add force to a realisation of the optimal returns to stockholders. The Board has, in turn, assigned the company’s everyday business management to the organisation’s management through the chief executive officer.

The Board is made up of executive directors and non-executive directors. The Non-Executive Directors make up a majority of the Board. A majority of the members of the Board consist of men, who make up 80 percent of the Board with the remaining 20 percent reserved for women. The company’s constitution stipulates that the company should not have more than 10 members in the Board, and less than 3 directors (Clayton UTZ 2010). Currently, the Board has 5 members (Ian Pollard as non-executive chairman, McNeil Fiske as executive director, Gordon Merchant as non-executive director, Howard Mowlem, non-executive director, and Jason Mozingo, non-executive director) (Billabongbiz 2016).

Chairperson of the Board is autonomous and is a different person from the company’s chief executive officer. The Board also has several committees like Audit & Risk, HR & Remuneration, and Nominations Committee, which an independent director heads all through any fiscal year.

The Non-Executive Directors have unrestricted tenure and contract with the company, which are, however, conditional on their performance and choice by shareholders during election. However, the company’s constitution demands that Non-Executive Directors have to retire during the third AGM after their last election.

Overall, the Board strives to make sure that members represent a proper balance between Directors who have years of experience and knowledge of company, as well as Directors who are wealthy of external perspectives. It also seeks to make sure that it works effectively in its decision-making.

References

Billabong International Limited 2013, 2013-14 Half-Year Financial Report, viewed 29 Sept 2016, <http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MjIxNDU0fENoaWxkSUQ9LTF8VHlwZT0z&t=1>

Billabong International Limited 2016, Corporate Governance Statement, 29 Sept 2016, <http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MzAyNTM5fENoaWxkSUQ9LTF8VHlwZT0z&t=1&cb=635762278197230266>

Billabongbiz 2016, Corporate Overview: Board of Directors, viewed 29 Sept 2016, <http://www.billabongbiz.com/phoenix.zhtml?c=154279&p=irol-govboard>

Clayton UTZ 2010, Constitution of Billabong International Ltd ACN 084 923 946, viewed 29 Sept 2016, <http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NjcyNDl8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1>