Twelve months after the release of the Ernst & Young 2018 Review of Performance (ROP) and its 82 recommendations, Australian Wool Innovation is pleased to report an overall implementation rate of 76 per cent.
AWI Chief Executive Officer Stuart McCullough said it had been a busy year for AWI – the not-for-profit company owned by Australia’s woolgrowers – with the business focussed on implementing the ROP recommendations while ensuring transparency and improved consultation and communication with woolgrowers and the wider industry.
“We have been working through our implementation plan which provides a comprehensive three-year roadmap to successfully action all 82 recommendations included in the ROP,” he said.
“We are pleased with our progress to date achieving an overall implementation rate of 76 per cent, with 31 of the recommendations completed in full.
“The ROP was also instrumental in guiding our new strategic plan, with recommendations related to consultation and measurement and evaluation integral parts of the new strategic document.”
Mr McCullough said the 76 per cent overall implementation rate included progress made on actioning the five recommendations changes to the company’s democratic election model.
“In March this year, AWI and woolgrower representative groups reached consensus on the company’s response to five recommendations in the ROP that involve proposed changes to AWI’s constitution relating to its democratic election model,” he said.
“We agree with industry that these proposed changes to the AWI constitution are in the best interests of Australian woolgrowers and should be put to shareholders at our 2019 and 2020 annual general meetings.
“As reflected in our implementation roadmap and in AWI’s new strategic plan, we are committed to continuing to listen to and consult with industry to ensure we meet the expectations of woolgrowers, our levy-payers, woolgrower representative groups and government.
“Our plan provides a clear blueprint for continual improvement to the organisation. We see great value in ongoing business improvement to ensure we continue to support Australian woolgrowers and ensure they get the best price for their wool.”