Role of the board
The Board’s primary objective is the enhancement of shareholder value by following a set of core principles, appropriate governance, and ethical strategies, and ensuring effective and innovative use of company resources. The Board is responsible for the management, oversight, supervision, and direction of the Group. Day-to-day management of the Group is delegated to the Chief Executive.
The Board Charter sets out these roles and responsibilities.
The governance principles adopted by the Board are designed to meet best practice recommendations for listed companies to the extent that they are appropriate to the size and nature of AoFrio’s operations. The Board endorses the overall principles embodied in the NZX Corporate Governance Code 2022 (the NZX Code) and believes the company’s corporate governance principles, policies and practices are appropriately aligned with the NZX Code’s recommendations. Our Corporate Governance Statement in our Annual Report provides further details, including where the company has chosen not to comply with a recommendation under the NZX Code.
Health and safety
Whilst not a committee of board members, AoFrio has a Health and Safety Committee that meets monthly and reports to the Board. The Company is strongly committed to maintaining a safe and healthy workplace and believes all accidents are preventable. The committee is made up of a mix of senior management and staff from key operational areas.
The Committee strives to: maintain and continually improve our Health and Safety systems; proactively identify hazards and take all steps to eliminate or mitigate these; consult and actively promote participation in Health and Safety matters throughout the Company.
A link to our Health and Safety Policy is below.
This committee operates under a charter approved by the Board and assists the Board in: overseeing the quality and integrity of external financial reporting including the accuracy, completeness and timeliness of financial statements; the appropriateness of accounting policies, areas of judgement, compliance with accounting standards, stock exchange and legal requirements; and the business’s relationship with, and the independence of, the external auditor.
The committee is composed of three non-executive directors, all of whom are independent. The current members are John McMahon (Chair), Keith Oliver and Melissa Clark-Reynolds.
Executive Appointment and Remuneration Committee
This committee operates under a charter approved by the Board and assists the Board in: the remuneration and appointment of the senior executive team; management succession planning; reviewing and approving compensation arrangements; establishing employee incentive schemes and the remuneration of the Board. The committee also advises on proposals for significant company-wide remuneration policies and programmes. In carrying out this role, the sub-committee operates independently of senior management of the Company and obtains independent advice on the appropriateness of the remuneration packages.
The current members are John Scott, and Keith Oliver (Chair).
This committee operates under a charter approved by the Board and assists to align the board and management as it embarks on a risk management program. The primary responsibility of the risk committee is to oversee and approve the company-wide risk management process and action plans.
The Risk committee is composed of two non-executive directors, of whom are independent. The current members are Greg Allen (Chair) and Roz Buick.
Technology and Innovation Committee
This committee operates under a charter approved by the Board and assists the Board in overseeing and providing counsel on overall strategy, direction and effectiveness of technology and innovation activities.
The current member are John Scott (Chair), Melissa Clark-Reynolds and Roz Buick.
From time-to-time the Board may establish a committee to assist in the management of a matter or project.
Click on the links below to view our policies.
Meet our Board of Directors
John has been an AoFrio board member since 2019. His in-depth knowledge of IoT and global supply chains has seen him play a pivotal role in recalibrating the business into a hardware-enabled, SaaS company.
Alongside his role on the AoFrio Board, John is the CEO of Invenco Group, a global provider of self-service payment solutions. John has previously held positions at Navico, Number 8 Workshop, Brunswick Corporation, Navman Technology NZ, and Volex.
John has more than 30 years’ experience in the Australasian equity markets, predominantly as an equity analyst covering the telecommunications, media, gaming, transport, and industrials sectors.
John’s previous roles include Head of Research and Head of Equities for ABN AMRO NZ and Managing Director of ASB Securities.
John is a director and Chair of Solution Dynamics Ltd (SDL), is director and Chair of Vital Ltd (VTL) and is a director and Chair of NZX Ltd (NZX).
Keith is also an Independent Director at Rakon Limited, Chairman of Blackhawk.io, and a director at VWork Limited and Alto Capital.
Keith’s previous roles include Executive Chairman at high tech company Compac Sorting Ltd and independent Director of the science led Crown Research Institute ESR.
Greg is the former CEO of AoFrio, a position he held for nine years. He has worked around the world leading business development, supply chain, and tech manufacturing for more than 30 years. Greg resides in Vancouver, Canada and is currently a Partner for Chrysalix Venture Capital, the Board Chair of HaiLa, a board observer for Liminal, and is a member of the Economic Advisory Committee for the City of Richmond, British Columbia.
Melissa Clark-Reynolds became a Futurist after 25 plus years’ experience as an entrepreneur and CEO of a number of Technology companies.
She was awarded the ONZM for Services to Technology in 2015. Melissa is a director of Atkins Ranch Lamb, Alpine Energy and Wētā workshop.
Melissa works with food companies to execute transformational strategies, through futurecentre.nz.
Roz has 27 years experience leading businesses and teams to digitally transform industries through process automation and re-engineered information management. A catalyst for change, she is skilled at innovating and scaling businesses via synergistic product and go-to-market strategies in various sectors including agriculture, construction and engineering, real estate, and environmental management.
A Senior Vice President at Oracle, she is also a Board Director on technology and construction companies in ANZ, USA, and Mexico. Trained as a scientist and lecturer at Virginia Tech USA and Lincoln University NZ in systems modelling and AI software for complex decision making, with a Bachelor of Agricultural Sciences, a Ph.D. in simulation modelling (Lincoln Uni. NZ), and an Executive MBA (Duke Uni. NC).
Contact AoFrio’s investor relations team.