We are committed to running CD ethically and in line with the appropriate standards of corporate governance.
Annual General Meeting (AGM)
On Tuesday 21 November 2017, CD welcomed a full house of members, guests and senior leaders to Eight Mile Plains for the Annual General Meeting (AGM).
Describing 2017 as a "watershed year", CD President, Nigel Alexander, told the audience the successful merger of CD with QT Mutual Bank was the year's "major headline". "Our merged bank entity, formally launched in September, has the critical mass, marketing, IT expertise and huge potential customer base with which to seriously challenge the major banks, not only with the quality of product offerings but with the customer-focused way in which those products are delivered," he said.
Group CEO, Ian Gillespie, said the bringing together of QTMB's banking expertise with CD's state-wide footprint created a unique market position . "We want to be a genuine alternative to the more established players in the Australian financial sector, not by copying them, but by providing something new and different – a true service model for banking," he said.
Mr Gillespie called out the launch of the Enthusiast Car and Car review insurance line, the successful introduction of our Roadside app and continuing delivery of lifesaving education programs (Streets Ahead, Years Ahead and Docudrama) as further key deliverables for the year. He commended the successful management of more than six thousand claims after the devastating storms in North Queensland in March, and CD’s leadership in addressing insurance "claim farming" across the industry.
The meeting acknowledged Bronwyn Morris becoming the new President and Chair following the end of Nigel Alexander’s term as well as the significant contribution made by departing directors Peter Whitelaw (CD Bank) and Stephen Maitland (CD).
You can read text of Mr Alexander and Mr Gillespie’s speeches or watch the .
2017 Corporate Governance Statement
The CD Corporate Governance Statement [PDF 153 KB] is current at 30 June 2017 and has been approved by the CD board.
The board of directors
The role of the board is to oversee and guide the management of CD with the aim of protecting and enhancing long-term member value. The board is responsible for ensuring effective governance practices and the overall performance and conduct of CD. A number of committees exist to assist this function.
- Group Audit Committee – assists the board fulfilling its objectives and oversight for financial and statutory reporting, external and internal audit, and the effectiveness of the Group’s financial reporting framework.
- Group Governance and Remuneration Committee – maintains appropriate ethical standards, policies and practices around corporate governance and remuneration.
- Group Investment Committee – assists in the governance and stewardship of CD Group investments.
Codes of conduct
Employees at all levels are required to conduct themselves with the highest ethical standards of corporate behaviour. Our directors code of conduct requires directors to behave ethically, act within the law, avoid conflicts of interest and act honestly in all business activities. Our employee code of conduct sets out the principles and standards for all employees.
Constitution and bylaws
CD’s members have rights which are set out in CD’s Constitution (300KB PDF) and By-Laws (4KB PDF).
Remuneration, performance and assessment
Under the CD Constitution (300KB PDF), eligible members determine the aggregate remuneration payable to directors. The board then determines its individual allocation. Senior management remuneration is determined by market information provided by an independent expert.
We have a formal performance management system for all members of the senior management team. Management discuss their performance with the Group CEO every six months, and the board assesses the performance of the Group CEO.
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