The Telstra Board is committed to excellence in corporate governance and the enhancement of its shareholders’ interests.
Good corporate governance is the hallmark of successful companies – it adds value to the Company through efficient oversight and risk management, while encouraging innovation and entrepreneurship within the Company.
As one of Australia’s largest companies, with one of the largest diversified shareholder bases, the Telstra Board firmly believes that striving for excellence in corporate governance plays a major part in the Company’s continuing success.
Telstra's main corporate governance and Board practices are outlined in our 2011 Annual Report. This section provides information on corporate governance and board practices in the following areas:
- Board of Directors
- Committees of the Board
- Telstra's Remuneration Framework
- Risk Oversight and Management
- Company Policies and Business Principles
- Diversity and Inclusion at Telstra
- Documents and Charters
Telstra continues to refine and improve its corporate governance systems. The Board evaluates and, where appropriate, implements relevant proposals with the aim of ensuring that Telstra continues to demonstrate its commitment to good corporate governance, having regard to developments in market practice expectations and regulation.
Telstra complies with the ASX Corporate Governance Principles and Recommendations (ASX Principles and Recommendations). The disclosures made on these corporate governance webpages (‘Webpages’) largely reflect the content of Telstra's Board and Board Committee Charters and company policies in place as at August 2011, and updated from time to time. Further information on Telstra’s corporate governance practices during fiscal 2011 can be found in the corporate governance statement of Telstra's 2011 Annual Report.
On 30 June 2010, the ASX Corporate Governance Council released amendments to the ASX Principles and Recommendations (Amended ASX Principles and Recommendations), in particular in relation to diversity. While the changes do not take effect until the first financial year beginning on or after 1 January 2011 (being the financial year commencing 1 July 2011 in Telstra’s case), Telstra has taken steps to early adopt key provisions of the Amended ASX Principles and Recommendations as outlined on these Webpages and in the corporate governance statement of the 2011 Annual Report.
