AWB Limited - 2003 Annual Report

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DIRECTORS' REPORT (continued) Emoluments of the five most highly paid executive officers of AWB Limited and the consolidated entity Base fee Superannuation 2002 bonus paid in Other Total $ $ current year $ $ $ Paul Ingleby 427,253 10,640 99,960 18,618 556,471 Charles Stott 287,783 10,640 58,800 153,665 b 510,888 Tim Goodacre a 62,966 1,952 105,000 310,320 c 480,238 Marcus Kennedy 369,070 10,890 – 76,275 d 456,235 Jill Gillingham 277,445 67,351 83,300 3,716 431,812 Total 1,424,517 101,473 347,060 562,594 2,435,644 Notes: The terms 'director' and 'officer' have been treated as mutually exclusive for the purposes of this disclosure. a Tim Goodacre resigned on 6 December 2002. b "Other" emoluments include performance related payments relating to the acquisition of Landmark. c "Other" emoluments include the payment of accrued annual leave and long service leave entitlements. d "Other" emoluments includes an amount paid on commencement of employment. DIRECTORS' MEETINGS The number of meetings of directors (including meetings of committees of directors) held during the year and the number of meetings attended by each director were as follows: Director Board meetings Audit Committee Corporate Risk Remuneration meetings Committee meetings Committee meetings Eligible to Attended Eligible to Eligible to Eligible to attend attend Attended attend Attended attend Attended Brendan Stewart 13 13 7 7 8 8 3 3 Robert Barry 13 12 7 7 Andrew Lindberg 13 13 5 5 3 3 Ian Cush 1 5 5 4 4 Brendan Fitzgerald 2 8 8 3 3 Laurie Marshall 13 13 7 7 Xavier Martin 2 8 8 3 3 Warrick McClelland 13 13 7 7 Christopher Moffet 13 13 8 8 Peter Polson 3 6 6 4 4 2 2 Kerry Sanderson 13 12 8 7 Brenda Shanahan 4 7 7 4 4 1 1 Michael Shanahan 1 5 5 4 4 John Simpson 13 13 3 3 John Thame 13 13 7 7 3 3 In all cases where a director did not attend a meeting, prior leave of absence was granted by the board or chairman to the director. 1 Not re–elected at the 2003 Annual General Meeting. 3 Appointed 31 March 2003. 2 Elected at the 2003 Annual General Meeting. 4 Resigned 31 March 2003. 48
DIRECTORS' MEETINGS (continued) Director Nomination Committee Investment Committee Services Agreement meetings meetings Committee meetings Eligible to Eligible to Eligible to attend Attended attend Attended attend Attended Brendan Stewart 5 5 3 3 Robert Barry 5 5 3 1 Andrew Lindberg 3 3 Ian Cush 1 Brendan Fitzgerald 2 Laurie Marshall 3 3 5 5 Xavier Martin 2 Warrick McClelland 3 3 5 5 Christopher Moffet Peter Polson 3 3 3 Kerry Sanderson Brenda Shanahan 4 Michael Shanahan 1 John Simpson 2 2 John Thame 3 3 5 5 In all cases where a director did not attend a meeting, prior leave of absence was granted by the board or chairman to the director. 1 Not re–elected at the 2003 Annual General Meeting. 3 Appointed 31 March 2003. 2 Elected at the 2003 Annual General Meeting. 4 Resigned 31 March 2003. ROUNDING The amounts contained in this report and in the financial statements have been rounded off under the option available to the company under Australian Securities and Investments Commission Class Order 98/100. Amounts in this report have been rounded off in accordance with that Class Order to the nearest thousand dollars, or in certain cases, to the nearest dollar. Signed in accordance with a resolution of the directors: Brendan Stewart Chairman Sydney 26 November 2003 Andrew Lindberg Managing Director 49
Page 1 and 2: Annual Report 2003 imagine the futu
Page 3 and 4: During the past year, Australia has
Page 5 and 6: FINANCIAL PERFORMANCE SUMMARY Droug
Page 7 and 8: There are six key business streams
Page 9 and 10: chairman’s and managing director
Page 11 and 12: As a gesture of AWB's appreciation
Page 13 and 14: pool management services AWB Nation
Page 15 and 16: For the 2001/02 Pool, AWB managed a
Page 17 and 18: finance and risk management Harvest
Page 19 and 20: Through “ring fencing”, AWB was
Page 21 and 22: grain acquisition and trading Grain
Page 23 and 24: supply chain and other investments
Page 25 and 26: Children of AWB employees enjoying
Page 27 and 28: grain technology AWB Grain Technolo
Page 29 and 30: landmark Overview Landmark is Austr
Page 31 and 32: our people and systems People AWB e
Page 33 and 34: AWB has committed itself to a thoro
Page 35 and 36: Charles Stott Group General Manager
Page 37 and 38: the chairman, Mr Robert Barry and M
Page 39 and 40: Identification and Management of Si
Page 41 and 42: Birchip in Victoria and a former Vi
Page 43 and 44: Brendan Stewart Chairman, Non-execu
Page 45 and 46: international presence 43
Page 47 and 48: INNOVATION FOCUS TO DELIVER NEW OPP
Page 49: LIKELY DEVELOPMENTS AND EXPECTED RE
Page 53 and 54: STATEMENT OF FINANCIAL POSITION AS
Page 55 and 56: NOTES TO AND FORMING PART OF THE FI
Page 57 and 58: (h) Derivatives (continued) transac
Page 59 and 60: 2. REVENUE FROM ORDINARY ACTIVITIES
Page 61 and 62: 4. TAXATION Consolidated AWB Limite
Page 63 and 64: 8. OTHER ASSETS Consolidated AWB Li
Page 65 and 66: 11. OTHER FINANCIAL ASSETS Consolid
Page 67 and 68: 13. PROPERTY, PLANT AND EQUIPMENT (
Page 69 and 70: 16. PROVISIONS Consolidated AWB Lim
Page 71 and 72: 20. OUTSIDE EQUITY INTERESTS Consol
Page 73 and 74: 24. REMUNERATION OF DIRECTORS Conso
Page 75 and 76: 27. RELATED PARTY DISCLOSURES (cont
Page 77 and 78: 28. SEGMENT INFORMATION (continued)
Page 79 and 80: 31. EMPLOYEE BENEFITS AND SUPERANNU
Page 81 and 82: 32. FINANCIAL INSTRUMENTS (continue
Page 83 and 84: 32. FINANCIAL INSTRUMENTS (continue
Page 85 and 86: 33. DEED OF CROSS GUARANTEE Pursuan
Page 87 and 88: 34. CONTROLLED ENTITIES (continued)
Page 89 and 90: 35. EARNINGS PER SHARE Consolidated
Page 91 and 92: INDEPENDENT AUDIT REPORT TO MEMBERS
Page 93 and 94: FINANCIAL CALENDAR - 2004 Annual Ge
Page 95 and 96: AWB GROUP LOCATIONS ROYCE DESIGN AW

AWB Limited - 2003 Annual Report

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