Corporate Governance


The Board of Directors is responsible for the overall corporate governance of Greatcell Solar Limited, and is committed to the principles underpinning best practice in corporate governance, applied in a manner that meets ASX standards and best addresses the Directors’ accountability to Shareholders.  However, whilst the Company will endeavour to comply with all of the guidelines under the ASX Corporate Governance Recommendations, the Board considers that the Company is not currently of a size, nor are its affairs of such complexity, to justify the additional expense of compliance with all recommendations.

Corporate Governance Policies
A brief summary of Greatcell Solar’s main corporate governance policies and practices is outlined below.  In addition, the following policies and procedures have been adopted and are available here in PDF:

The Board of Directors
The Board will comprise both executive and Non-Executive Directors. Presently there are three Non-Executive Directors and one Managing Director.  It is Greatcell Solar’s policy to have a majority of non-executive directors.

Ian Neal
BCom, Dip Sec
Non-Executive Chairman – appointed 5 May 2014
Richard Caldwell
BEc LLB S Fin
Managing Director – appointed 5 May 2014
Gordon Thompson
BE(hons), M.EngSc, FIE (Aust)
Non-Executive Director – appointed 4 November 2004
Dr Robert (Rob) McIntyre
Ph.D in Fundamental Surface Electrochemistry
Non-Executive Director – appointed 13 March 2015

 

Committees of the Board

The Board has established the following committees:

Audit and Risk Committee

The Audit Committee comprises two Board members, both of whom are Non-Executive Directors. The primary responsibility of this Committee is to monitor the integrity of the financial statements of the Company, and to oversee all aspects of the Company’s risk management framework.

Remuneration Committee

The Remuneration Committee comprises two Board members, both of whom are Non-Executive Directors.  The primary responsibility of this Committee is to discharge the Board’s responsibilities in relation to remuneration of the Company’s executives, including share and benefit plans.

Role of the Board

The strategy and control of the business is vested in the Board.  The Board’s primary responsibility is to oversee the Company’s business activities and management for the benefit of the shareholders.  The Board strives to create shareholder value and ensure that shareholders’ funds are prudently safeguarded.

Sustainability
Greactell Solar is a renewable energy technology company and has strong ethical values and commitment to sustainability in our business operations.  Learn more about sustainability at Greatcell Solar in the Sustainability Section of the website.