Governance Principles

In governing the Foundation, we are committed to the following principles:

Strategic thinking

We will:

  • Have an external orientation to our decision-making; and
  • Have logical connections between the use of our resources and the achievement of our objectives.

 

Responsible, larger risk-taking

We will focus on taking bigger risks to produce lasting results. This means that rather than making many small one-off grants, we will focus on larger multi-year grants with a greater potential for making a positive difference even if it involves a higher level of risk (risk means “either the failure to achieve the project’s objectives or non-performance”). For this approach to be successful, we will consider having a greater involvement in overseeing the management of the partnership, where deemed necessary.

 

Ethical and responsible behaviour

At all times, we will conduct every aspect of our activities in an ethical and responsible manner.

 

Aligned Values

We will ensure that our values and those of our partners remain in alignment. We will not align exclusively to any political or religious movement group or organisation.

Trustee Directors

The Colonial Foundation is governed by a corporate trustee, Colonial Foundation Limited. The Directors of the Trustee are:

Alan Beanland - Chairman

Alan Beanland joined the Board in October 2010. He has extensive international experience across four continents in roles as a Director, Senior Executive, Consultant and Business Developer within the Information Technology and Finance sectors. He has also advised major Australian and Asian Groups on their international business expansion activities.

Mr Beanland is also Chairman of Orygen, The National Centre of Excellence In Youth Mental Health.  He was previously Chairman of Credit Union Australia Limited (CUA) and a Non-Executive Director of CUA Heath Ltd, Credicorp Insurance Pty Ltd, Superpartners Pty Ltd, Spotless Group Limited, Dragon Mountain Gold Limited and Hancock Victorian Plantations Limited amongst other companies.

Colin Galbraith AM

Colin Galbraith joined the Board in March 2013 and is a Special Advisor to Gresham Partners Limited. Mr Galbraith joined Gresham in 2006 after retiring from the partnership of the law firm Allens Arthur Robinson.

Mr Galbraith is the Chairman of CARE Australia, a Director of Latam Autos Limited and a Trustee of the Royal Melbourne Hospital Neuroscience Foundation. Formerly, he was a Director of the Commonwealth Bank of Australia and the Australian Institute of Company Directors.

Robert Garnsworthy

Robert Garnsworthy joined the Board in February 2015. He worked for 17 years with Shell Australia holding senior executive positions in Shell’s Canadian and London offices.   Mr Garnsworthy joined the Colonial Group of companies in 1994 and was Managing Director of Colonial’s United Kingdom’s office up to 1988, thereafter, Managing Director of Colonial International from 1998 through to 2000. Mr Garnsworthy was Chief Executive Officer of Norwich Union Australia from 2000 to 2003.

His previous Board roles include Colonial First State, Portfolio Partners and CGU Insurance.

Jane Harvey

Jane Harvey joined the Board in July 2007. She is a former Partner of PricewaterhouseCoopers, having retired from the firm in 2002 and is currently a non-executive Director with IOOF Holdings Limited, Bupa Aust/New Zealand, Orygen, The National Centre of Excellence in Youth Mental Health, The Marian and EH Flack Trust and Opera Victoria Ltd.

In addition, Mrs Harvey is a Councillor of the Australian Institute of Company Directors (Victoria) and serves on the Audit Committee of the National Gallery of Victoria.  Mrs Harvey has previously served on a number of Boards including Medibank Private Limited, David Jones Limited, UGL Limited, Duet Finance Ltd, The Alfred Hospital and the Royal Flying Doctor Service.

Robert Officer AM

Robert Officer joined the Board in February 1997 and is Chairman of Acorn Capital Limited, JCP Capital Partners Ltd, and a Director of CP2. He was a Trustee of the William Buckland Foundation and was a Board Member of the Bank of Melbourne, Transurban Limited, Chairman of the Victorian WorkCover Authority, Transport Accident Commission and Chairman of Victorian Funds Management Corporation. He was Chairman of the Victorian Commission of Audit and the Chairman of the National Commission of Audit. Professor Officer was the Deputy Director and AMP Professor of Finance at the Melbourne Business School from 1986 to March 2002.

Professor Officer is a past President of the Accounting Association of Australia and New Zealand and for eight years, was Editor of Accounting and Finance.   Previously, Professor Officer held a Chair at Monash University and has held positions at the Universities of Chicago, Rochester, Stanford and more recently, The Wharton School at the University of Pennsylvania.

Andrea Waters

Andrea Waters joined the Board in February 2018. She is a Fellow of Chartered Accountants Australia & New Zealand, a member and accredited facilitator of the Australian Institute of Company Directors and a former partner with KPMG (until 2012) specialising in Financial Services Audit. For the past five years she has been a professional Non-Executive Director and is currently a director of MyState Limited (MYS), Cash Converters International Limited (CCV), CareSuper, Bennelong Funds Management Group and Citywide Service Solutions Pty. Ltd. She was previously a director of The Lord Mayors Charitable Foundation, Chartered Accountants Australia & New Zealand and Cancer Council Victoria.

Executive

André Carstens – Chief Executive Officer and Company Secretary

Michelle Donovan – Personal Assistant