At the virtual AMPC 2021 Annual General Meeting today, voting members approved changes to the constitution that will underpin the company’s aspirational future. The AMPC Board has been working on updating the constitution for the past year and the changes include modernising it to include streamlined administrative provisions and the introduction of a 9-year cap on director terms.
The changes to the constitution reflect the Board’s commitment to continuous improvement in its governance practices and address recommendations from the company’s independent performance review conducted by KPMG in 2020.
Under the updated constitution each director may only serve a maximum of 9 years. Current directors will serve out their current term which ends in November 2023.
All directors will have a maximum service period of three consecutive terms of three years (nine years total), where under the former Constitution, directors could serve for any number of consecutive terms.
During the AGM, the board farewelled independent director Bruce Rathie who will be stepping down from the board today following his recent resignation. Bruce is a respected professional director, and he has recently accepted a chair role on an ASX listed company and has had to reshuffle his commitments. He served on the AMPC board for four years.
The board also farewelled processor director James Hardwick who is stepping down today following the recent sale of the Hardwick’s processing business based out of Kyneton in Victoria. James served on the AMPC Board for one year.
Recruitment is now underway for an independent director following Mr Rathie’s departure, and the board will soon undertake a process to identify a processor director to fill the vacancy left by Mr Hardwick.
AMPC Chair John Berry opened the meeting and provided a business update and AMPC CEO Chris Taylor outlined AMPC’s past year of achievement. He said, “Strong foundations were established over the past year with member engagement at an all-time high. AMPC delivered practical R&D outcomes that met levy payer needs.”
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