At the Australian Meat Processor Corporation (AMPC) Annual General Meeting held today, voting members approved two amendments to the AMPC constitution.
The AMPC Board has been working on updating the constitution and the proposed changes included an update to director terms and a cap on the collective directors’ remuneration.
The changes to the constitution reflect the Board’s commitment to continuous improvement in its governance practices.
Members voted to approve the directors’ remuneration cap and changes to directors’ terms.
Directors’ remuneration cap
Members have approved an increase to the aggregate director remuneration cap, which was previously set at $500,000 per annum in the AMPC Constitution. The increase will see the cap increase to $550,000 for the financial year ending 30 June 2025 (and thereafter indexed annually by the Consumer Price Index All Groups as determined by the Australian Bureau of Statistics).
Directors’ terms
Members have approved changes to the aggregate director term cap.
The changes extend the ‘aggregate term cap’ in respect of a director until the latter of:
- nine years after the appointment of that director; or
- if that nine-year period expires at any time between the dates of Director Appointment AGMs at which a director is required to retire in accordance with this constitution, on the date of the Director Appointment AGM next occurring after the expiry of that nine-year period.
Under the AMPC Constitution directors may serve for up to nine years and this change will ensure Board continuity in the event of a director joining the board mid-term.
Farewell Dr Saranne Cooke
AMPC farewelled independent director, Dr Saranne Cooke, at today’s AGM. Saranne stood down as an AMPC Board director today following on from her nomination by the Meat and Livestock (MLA) board selection committee.
AMPC thanks Saranne for her knowledge and expertise provided over the past three years. Saranne was the Chair of the Audit and Risk Committee and was a member of the Nomination and Remuneration Committee during her tenure.
AMPC Chair Melissa Fletcher said, “I thank Saranne for her dedication and service to the AMPC Board and the red meat processing industry and congratulate her on her nomination to the MLA Board.”
For more information
Contact Head of Communications and Media - Maria Stathis on 0428 694 801 or email m.stathis@ampc.com.au
About the Australian Meat Processor Corporation
The Australian Meat Processor Corporation (AMPC) is the research and development corporation for the red meat processing industry in Australia. As the research, development, and marketing service provider for Australian processors, AMPC runs programs of activity that are funded by processor levy payers, private contributions, and the Australian Government. AMPC’s mission is to drive world-class innovation, adoption and strategic policy development through genuine partnerships built on trust.