Annual General Meeting (AGM)
The RACQ 2021 AGM was held at 2pm on Tuesday, 23 November 2021. The AGM was held as a hybrid meeting comprising a virtual meeting and in-person. In addition to the opportunity to attend in person, RACQ was pleased to provide members the opportunity to attend and participate through an online platform where members could watch, listen, and submit oral questions.
The meeting considered:
- Important changes to RACQ’s constitution (see racq.com/AGM for more information)
- The elections of Ms Fay Barker OAM, Mr Ian Gillespie AM and the Honourable Paul de Jersey AC CVO as Honorary Life Members of RACQ
- An increase to the total remuneration fee pool for RACQ directors
- The financial accounts for the 12 months to 30 June 2021
RACQ’s 2021 Annual Report can be accessed from the RACQ website racq.com/annualreports.
More information on how to vote and attend at the AGM is available here: https://events.miraqle.com/RACQ/home.
Corporate Governance Statement
The RACQ Corporate Governance Statement (PDF 76KB)
is current at 23 November 2021 and has been approved by the RACQ board.
The board of directors
The role of the board is to oversee and guide the management of RACQ with the aim of protecting and enhancing long-term member value. The board is responsible for ensuring effective governance practices and the overall performance and conduct of RACQ. A number of committees exist to assist this function.
View the board of directors
- Group Audit Committee – assists the board fulfilling its objectives and oversight for financial and statutory reporting, external and internal audit, and the effectiveness of the Group’s financial reporting framework.
- Group Remuneration and Nomination Committee – provides advice in relation to remuneration and nomination policies and practices that accord with RACQ’s values and the relevant compliance obligations.
- Group Strategic Capital Committee – assists in the stewardship of RACQ Group capital across strategic investments and the property portfolio.
- Risk and Compliance Committee – assists in fulfilling the board’s risk management and compliance responsibilities.
Codes of conduct
Employees at all levels are required to conduct themselves with the highest ethical standards of corporate behaviour. Our directors code of conduct requires directors to behave ethically, act within the law, avoid conflicts of interest, and act honestly in all business activities. Our employee code of conduct sets out the principles and standards for all employees.
Speak up framework
RACQ has established a whistleblower reporting framework to encourage and support speaking up when a person has reasonable grounds to suspect misconduct, illegal, or inappropriate behaviours. The speak up reporting process is easy, safe, and secure through our independent external whistle blower hotline Stopline.
More information can be found in the RACQ Whistleblower Policy (PDF, 262KB).
RACQ members have rights which are set out in the RACQ Constitution (PDF, 495KB)
Remuneration, performance, and assessment
Under the RACQ Constitution (PDF, 495KB)
, eligible members determine the aggregate remuneration payable to directors. The board then determines its individual allocation. Senior management remuneration is determined by market information provided by an independent expert.
We have a formal performance management system for all members of the senior management team. Management discuss their performance with the Group CEO every six months, and the board assesses the performance of the Group CEO.