Governance

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

Strategic thinking

We will maintain an external orientation in our decision-making and ensure there are clear, logical connections between how our resources are used and the achievement of our objectives.

Responsible, larger risk-taking

We will take a higher-risk approach to achieve lasting results by prioritising larger, multi-year grants with greater potential for impact, rather than multiple small one-off grants. Where necessary, this may include a higher level of involvement in overseeing partnership management.

Ethical 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.

ESG Principles

Colonial Foundation acknowledges that every business, including this Foundation, has an impact on society and the environment, and that the governance thereof affects that impact. The ESG (Environmental, Social and Governance) impact may be positive, or negative, intended, or unintended. We agree that, as a responsible organisation, we should consider our ESG impact when making business decisions.

Following due consideration and taking into account the nature and scope of the organisation, Colonial Foundation resolved to adopt a pragmatic principles-based approach to ESG.

Trustee Directors

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

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 13 years Ms Waters has been a professional Non-Executive Director and is currently a director of MyState Limited (MYS), Helia Limited and Chair of Grant Thornton Australia Limited.

Ms Waters was previously a Director of Citywide Service Solutions Pty. Ltd., Bennelong Funds Management Group, Cash Converters International Limited (CCV), CareSuper, The Lord Mayors Charitable Foundation, Chartered Accountants Australia & New Zealand and Cancer Council Victoria.

Colin Galbraith joined the Board in March 2013. Mr Galbraith was a partner in the law firm Allens Arthur Robinson until 2006 and then Senior Adviser to Gresham Partners Limited until the end of 2021.

Formerly, he was a Director of Commonwealth Bank of Australia, Australian Institute of Company Directors and CARE Australia (which he also chaired and in which he continues as a member of its Advisory Board). Mr Galbraith is a Trustee of the Royal Melbourne Hospital Neuroscience Foundation and a Director of the Susan McKinnon Foundation.

Professor Geoffrey Donnan joined the Board in June 2019. He is a Professor of Neurology at The University of Melbourne, Co-Chair of the Australian Stroke Alliance and is a former Director of The Florey Institute of Neuroscience and Mental Health. He actively continues his research at the Royal Melbourne and Austin Hospitals where his major interests are in neuroimaging and clinical trials. He has made major contributions to the understanding of stroke including establishment of new risk factors, the duration and evolution of viable brain tissue after stroke, the ischaemic penumbra.

More recently he has been co-chair of trials of thrombectomy in acute ischemic stroke with Professor Stephen Davis and the establishment of Australia’s first mobile stroke ambulance.

Professor Donnan has previously served as a board member of the Stroke Foundation, Brain Foundation, Prince Henry’s Institute of Medical Research, The Florey Institute of Neuroscience and Mental Health, Australian Clinical Trials Alliance (ACTA), Melbourne Academic Centre for Health (MACH), World Stroke Organization and World Neurology Foundation.

Tom Harley joined the Board in December 2022. He is Managing Director of Dragoman Pty Ltd, a political risk strategic advisory business he founded in 2009. He is a political scientist with an economics and finance background.

Mr Harley has extensive business experience; from 2008 to 2018, he was Non-Executive Chairman of Dow Chemical (Australia) and Senior Advisor to the Dow Chemical Company’s Executive Leadership Team (globally). He was previously a senior executive at BHP where he was: President of Corporate Development (for the whole group) and head of Mergers and Acquisitions for BHP’s Petroleum Group. Prior to his work in petroleum, he was involved in BHP’s financial restructuring and funding in BHP’s Corporate Treasury.

Mr Harley is a non-executive director of Biotech start-up Proto-Axiom. He is Chairman of the Australia Saudi Business Council and Chair of the Edward Wilson Trust. He has previously served as President of the Victorian Arts Centre Trust, as an Australian member of the Asia-Pacific Business Cooperation (APEC) Business Council, Chairman of the Australian Heritage Council, President of UNICEF Australia and Chair of the Menzies Research Centre.

Kent Sutherland has more than 30 years of experience in the Financial Markets, gained across Australasia, Europe and the United States. He runs a financial consulting firm Kenber Pty Ltd providing consulting services to Government Agencies, Banks, Investment Managers and Family Offices.

Prior to forming Kenber, he was Head of Equities for Victorian Funds Management Corporation, where he ran their $32 billion equity program. Kent has broad experience across the Capital Markets, having worked for Macquarie Bank in Sydney, JP Morgan in New York, and the corporate funds of NCR in the United States and across Europe and IKANO in Luxembourg.

He has been a Board Member of the Korowa Anglican Girls’ School Foundation.

Kent has a Bachelor of Science and a Bachelor of Commerce from the University of Melbourne, an MBA from the Darden Business School and is a CFA Charterholder.

Melissa Reynolds joined the Board in July 2021. She is an accomplished senior executive with over 30 years’ experience in ASX-listed financial services, energy and media companies, including Executive roles at AGL Energy, National Australia Bank and Sensis. Ms Reynolds has significant strategic, commercial and operational leadership expertise including digital transformations, and has worked with the Not-For-Profit sector in a commercial context across several decades.

Ms Reynolds is currently Chief Executive Officer of State Trustees Limited and a councillor at Genazzano FCJ College. Until recently she was a Non-Executive Director of Teachers Mutual Bank and Chair of their Technology and Innovation Committee. In addition to her qualifications, she has completed the Advanced Management Program at INSEAD, France.

Investment Committee Members

  • Mr Kent Sutherland
  • Ms Andrea Waters

  • Mr Michael Fitzsimmons

Past Directors

  • Sir Ninian Stephen KG AK GCMG GCVO KBE 1996 – 2004

  • Mr David Adam 1996 – 2010

  • Mr Peter Smedley AM 1996 – 2018

  • Mr Peter Kelly 1996 – 2017

  • Prof. Robert Officer AM 1997 – 2019

  • Prof. Priscilla Sheath Kincaid-Smith 1997 – 2006

  • Mr Graham Brooke 2001 – 2015

  • Prof. John McNeil AM 2005 – 2014

  • Ms Jane Harvey 2007 – 2020

  • Mr Alan Beanland 2010 – 2022

  • Mr Robert Garnsworthy 2015 – 2022

  • Mr Michael Fitzsimmons 2020 – 2026

  • Ms Mette Schepers 2022 – 2026

Executive

Mette Schepers – Chief Executive Officer and Company Secretary

Michelle Donovan – Personal Assistant