Corporate governance

The board and management of LIC are committed to ensure that we maintain a high standard of corporate governance and ethical standards.

The board is responsible for the corporate governance of LIC: the oversight of the business by the directors, the accountability of the directors to shareholders and others for the performance of LIC, and compliance with laws and standards.  High standards of corporate governance are achieved when individual directors and the board as a whole acts ethically and in a manner consistent with the values of the business.  Honesty, integrity, experience, ideas, courage, sound judgement and common sense are the core qualities of directors that lead to good corporate governance.  The Board regularly reviews the skills and capabilities required of the members of the Board and independent director appointments deliberately target any skill gaps.

The NZX Corporate Governance Code sets out eight fundamental principles of good corporate governance, and LIC’s annual report “Corporate Governance Report” section is structured to reflect our compliance with these principles.  Our objective is to provide transparency of LIC’s corporate governance practices for our shareholders and other stakeholders.

LIC has adopted a Code of Conduct and Ethics for the Company and directors, as well as formal charters for the board and the various board sub-committees.  Corporate governance policies, practices and processes followed by the Board are also included below.

Read the LIC Constitution to find out about:

  • our principal activities
  • our co-operative principles
  • the rules governing LIC’s ordinary shares
  • how the Board of Directors and the Shareholder Council are elected
  • shareholder meetings and voting rights.

Constitution of Livestock Improvement Corporation Limited