Induction Program

To be effective, new directors and senior executives need to have a good deal of knowledge about the Company and the industry within which it operates. To that end, the following Induction Program has been devised for new directors and senior executives.

The goal of the Induction Program is to assist New Directors to participate fully and actively in Board decision-making at the earliest opportunity and to assist senior executives to participate fully and actively in management decision-making at the earliest opportunity.

New Directors

GoalHow AchievedTimeline*
To gain an understanding of the rights, duties and responsibilities of the directors and the roles and responsibilities of senior executives To understand the role of board committees.Meet with the Chair to discuss: • the responsibilities of the Board and senior executives as set out in the various Company charters and how these responsibilities are divided. Also to ensure an understanding of the Director’s disclosure obligations (see Director’s Disclosure Obligations) and the duties set out in Overview of Duties Imposed on Directors of Public Companies; and • the responsibilities of each committee, as set out in the respective charters.
To gain an understanding of the Company’s strategic, operational and risk management position.Meet with the Chair and the Chief Executive Officer (or equivalent) to discuss the strategies of the Company and how senior management progresses that strategy. Also to discuss the Company’s Risk Management Policy. Meet with the Chief Executive Officer (or equivalent) to discuss the risk management and internal control system to manage the Company’s material business risks.
To gain an understanding of the Company’s financial and financial risk positionMeet with the Chief Financial Officer (or equivalent) to discuss: • the most recent financial reports of the Company; and • the risk management systems in place in relation to financial reporting risk.

Senior Executives

GoalHow AchievedTimeline*
To understand the respective rights, duties, responsibilities and roles of the Board and senior executives.Meet with the Chair to discuss the responsibilities of the Board and senior executives as set out in the various Company charters and how these responsibilities are divided.
To gain an understanding of the Company’s strategies and operational and risk management policiesMeet with the Chair and the Chief Executive Officer (or equivalent) to discuss the strategies of the Company and how senior management progresses that strategy. Also to discuss the Company’s Risk Management Policy. Meet with the Chief Executive Officer (or equivalent) to discuss the risk management and internal control system to manage the Company’s material business risks.
To gain an understanding of the Company’s financial and financial risk position.Meet with the Chief Financial Officer (or equivalent) to discuss: • the most recent financial reports of the Company. • the risk management systems in place in relation to financial reporting risk.

* Insert relevant date and time