Board of Directors’ Governance
The Board of Directors of WATC is responsible for the performance of the functions of WATC under the Western Australian Treasury Corporation Act 1986.
In order to ensure that WATC carries out its functions in the best interests of the State, clients and other stakeholders, the Board of Directors (the Board) of WATC sets the strategic direction of WATC, with the agreement of the Minister, and establishes the policies and principles under which WATC operates.
The corporate governance processes established by the Board ensure that they are able to fulfil WATC’s statutory obligations, guide the affairs of WATC and oversee WATC’s performance. The Board relies on and holds to account the Chief Executive Officer for the operational management of WATC and implementation of the strategic direction.
The membership of the Board is determined in accordance with Section 5B of the
An appointed director may hold office for a term not exceeding three years, which is specified in the instrument of appointment, but may be reappointed from time to time.
The directors of WATC at 30 June 2018 are shown in the table below.
The Secretary to the Board was Steven L Luff, Chief Financial Officer.
|Name||Position||First Appointed||Term Expires|
|Michael Anthony Barnes||Chairperson||Statutory||Statutory|
|Michael John Reginald Court||Deputy Chairperson||1/07/2017||n/a|
|John MacPherson Collins V1||Chief Executive Officer||Statutory||Statutory|
|Catherine Anne Nance||Director||15/07/1998||31/12/2018|
|Jennifer Anne Seabrook||Director||01/10/2015||30/09/2018|
|Grahame John Searle||Director||01/01/2009||31/12/2019|
1 The Chief Executive Officer is the only director with executive responsibilities.
The Board is responsible for the performance of the functions of WATC under the Act. These functions include:
In fulfilling this role, the Board guides and monitors the affairs of WATC. This includes:
As part of good governance, the Board undertakes to evaluate their performance each year.
Board and Senior Executive Remuneration
The annual remuneration for WATC’s board and senior executive was as follows:
|M A Barnes||0*||0*|
|M J R Court||0*||–|
|C A Nance||47,648||47,739|
|J A Seabrook||41,452||41,532|
|G J Searle||0*||0*|
|J M Collins V||454,356||452,689|
|M A Nunes||412,821**||367,821|
|R A Moulton||96,823||0***|
|S J B Morhall||304,246||306,018|
*Employee of the Western Australian State Government, therefore no compensation paid for this Board position
**Retired in 2017/18
***Commenced in 2017/18