Corporate Governance

Corporate governance at SKYCITY encompasses the company's decision-making structures and the mechanisms used to manage the organisation.

The board of SKYCITY has a comprehensive set of corporate governance practices and procedures in place to ensure that these responsibilities are met.

Board Charter

The board of SKYCITY operates under a formal charter which covers the roles and responsibilities of the board and its committees, financial reporting and disclosure and stakeholder and community responsibility.

The SKYCITY Board Charter is aligned with the provisions of the NZX Corporate Governance Best Practice Code (August 2003) and the ASX Principles of Good Corporate Governance and Best Practice Recommendations (March 2003).

> Download Board Charter

Role of the Board

SKYCITY's board of directors is responsible for supervising the management of the company. The board establishes the company's objectives, the major strategies for achieving these objectives, the overall policy framework within which the business of the company is conducted, and monitors management's performance with respect to these matters. The board also ensures that the company's assets and resources are maintained under effective stewardship, that decision-making authorities within the organisation are clearly defined, that the social and business obligations of the company are met, that the letter and intent of New Zealand and Australian company and casino law is complied with, and that the business is well-managed for the benefit of its shareholders.

The board currently comprises six directors, including a non-executive chairman (Rod McGeoch), an executive director (Evan Davies) plus five non-executive directors. Procedures for the operation of the board, including the appointment and removal of directors, are governed by the company's constitution.

Audit and Risk Committee

The board's Audit and Risk Committee sets and monitors the company's accounting and reporting practices and its internal control and risk management environments.

Download the External Audit Independence Policy

External Audit Independence Policy

Governance and Remuneration Committee

The board's Governance and Remuneration Committee monitors board membership and effectiveness, senior executive performance and remuneration, the ethics of the organisation, protection of the company's casino licences, statutory and regulatory compliance, and the identification of and planning for emerging issues.

The company has a formal code of conduct governing the purchase of SKYCITY securities by directors and executive personnel and a prohibition on gaming by SKYCITY staff and directors on the company's premises. Compliance with the Codes for Securities Transactions and Business Practice is overseen by the Governance and Remuneration Committee.

Nomination Committee

The Nomination Committee is responsible for monitoring board peformance and ensuring the right mix of skills and experience are represented on the board.