Air New Zealand 2012 Annual Report Download - page 59

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Director฀Independence
The Board’s standards for determining the independence of a director including the requirements of the NZSX Listing Rules and the
ASX Recommendations are set out in full in the Board’s Charter. All seven of Air New Zealand’s directors, including the Chairman, are
independent directors under those criteria. Directors are required to inform the Board of all relevant information which may affect their
independence.
BOARD฀COMMITTEES
The Board has delegated certain of its responsibilities to the Audit Committee, the Safety Committee and the People Remuneration
and Diversity Committee. The committees play the following roles:
฀ •฀ The฀Audit฀Committee฀assists฀the฀Board฀in฀discharging฀its฀responsibilities฀in฀relation฀to฀the฀nancial฀reporting,฀compliance฀and฀risk฀฀
management practices of Air New Zealand.
฀ •฀ The฀People฀Remuneration฀and฀Diversity฀Committee฀(formerly฀the฀People฀Development฀and฀Remuneration฀Committee)฀monitors฀฀
issues related to management structure, diversity and remuneration of the Chief Executive Officer and other senior executives.
฀ •฀ The฀Safety฀Committee฀ensures฀that,฀at฀all฀times,฀Air฀New฀Zealand฀has฀workable฀systems฀and฀processes฀in฀place฀to฀provide฀the฀฀
best practicable safety, security and environmental performance.
DIVERSITY
Air New Zealand is focusing Diversity Initiatives across the business. We recognise that a diverse workforce will stimulate breadth of
thought, innovation and customer insights to enable us to better service our broad customer base, and ultimately to deliver enhanced
business performance.
The People Development and Remuneration Committee (PDRC) has updated its name and charter to the People Remuneration and
Diversity Committee (PRDC) to confirm its focus and emphasis on the governance of Diversity. Diversity issues will focus initially on
gender and ethnicity.
Key diversity achievements at Air New Zealand for the 2012 financial year include updating the diversity policy, commencement of
programmes to mentor high potential women, the roll-out of a Leaders’ Toolkit for middle management addressing diversity with a
specific emphasis on unconscious-bias, and providing seminars for women to network and address the challenges returning from
parental leave.
The proportion of women within the Air New Zealand workforce is set out in the graph below.
The key measurable objectives for enhancing diversity at Air New Zealand for the 2013 financial year are:
฀ •฀ Diversity฀Project฀Delivery฀Team฀which฀will฀prioritise฀and฀implement฀key฀initiatives,฀check฀action฀plans,฀review฀reporting฀and
monitor progress;
฀ •฀ Reviewing฀programmes,฀processes฀and฀systems฀to฀ensure฀that฀we฀support฀a฀diverse฀and฀inclusive฀workforce;
฀ •฀ Introducing฀greater฀variation฀to฀our฀individual฀employment฀contracts฀to฀attract฀and฀retain฀a฀more฀diverse฀workforce;
฀ •฀ Targeted฀recruitment฀initiatives฀to฀increase฀diversity฀in฀Engineering;฀and
•฀ Building฀a฀database฀on฀ethnic฀diversity฀in฀the฀workforce.
Corporate Governance at Air New Zealand
(Continued)
Female Percentage of Workforce
40%
35%
30%
25%
20%
15%
10%
5%
0
BOARD DIRECT REPORTS TO CEO SENIOR MANAGEMENT OTHER
AIR NEW ZEALAND ANNUAL FINANCIAL RESULTS 2012
57