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Shareholder Review
Annual Report
Notice of Meeting
DIRECTORS' REPORT
The Directors of TOWER Australia Group
Limited (‘TOWER Australia', the Company)
submit their Report, together with the
Financial Report of the consolidated
entity for the financial year ended
30 September 2008 (‘the financial year').
The consolidated entity consists of TOWER
Australia and the entities it controlled at
the end of, or during, the financial year
(‘the Group').
COMPANY INFORMATION
TOWER Australia was incorporated in
New South Wales on 28 October 1987
and its shares were admitted to the official
list of the Australian Securities Exchange
for quotation on 21 November 2006.
The registered office for TOWER Australia
is located at 80 Alfred Street, Milsons Point
NSW 2061.
DIRECTORS' DETAILS
The names and details of the TOWER
Australia Directors who are holding office as
at the date of this Report or have held office
during the financial year are:
| Current Directors | Former Directors |
|---|
| Robert Thomas | Michael Jefferies |
| Donald Findlater | John Spencer |
| Peter Lewinsky | Gary Weiss |
| Ralph Pliner |
| Elana Rubin |
| Jim Minto |
| Former Alternate Director |
|---|
| Anthony Eisen |
The biographies for both current and former
Directors of TOWER Australia are detailed
below. Each Director was in office for the
entire period unless otherwise stated above.
CURRENT DIRECTORS
ROBERT THOMAS
BEc, FSIA, MSDIA
Independent non-executive Director
Chairman
Mr Thomas was appointed to the TOWER
Australia Board on 21 August 2007 and is
the Chairman of the Company as well as
the Chairman of the Remuneration and
Nominations Committee and a member
of the Investment Committee.
Mr Thomas has in excess of 30 years
experience in the investment and securities
industry. He was CEO and subsequently
Chairman of Citigroup Australia and New
Zealand Corporate and Investment Bank from
the late 1990's until his retirement in 2004.
Mr Thomas is Chairman of the Securities and
Derivatives Industry Association and President
of the Library Council of New South Wales.
Mr Thomas is presently the non-executive
Chairman of Heartware Limited, a Director of
TOWER Australia Limited and a non-executive
Director of Virgin Blue Holdings Limited.
DONALD FINDLATER
BCom, ACA
Independent non-executive Director
Mr Findlater was appointed to the TOWER
Australia Board on 7 July 2008 and is a
member of the Audit, Compliance and Risk
Management Committee.
Mr Findlater has over 40 years of professional
audit, accounting and advisory experience
with a wide range of Australian financial
institutions. He was a partner with KPMG
from 1 July 1981 to 4 July 2008 having
joined the company's predecessor firm, Peat
Marwick Mitchell in 1968. Throughout his
career at KPMG, Mr Findlater was the APRA
approved auditor for a significant number of
life and general insurance companies.
Mr Findlater is presently a non-executive
Director of Elders Financial Services Group
Pty Limited, Elders Trustees Limited, Elders
Insurance Limited and Elders Insurance
Agencies Pty Limited and a Director of
TOWER Australia Limited.
PETER LEWINSKY
BEc, MBA, FCA, SF Fin
Independent non-executive Director
Mr Lewinsky was appointed to the TOWER
Australia Board on 19 December 2006 and
is the Chairman of the Audit, Compliance
and Risk Management Committee and a
member of the Remuneration and
Nominations Committee.
Mr Lewinsky has been a private consultant
to Australian businesses since 1991 and has
also provided commercial and management
advice to the Victorian, South Australian
and Federal Governments. He is presently
a non-executive Director and Chairman of
the Audit Committee of Redflex Holdings
Limited, Chairman of the Audit Committee
of the Victorian Government's Department
of Primary Industries, and a Director of
TOWER Australia Limited. He is also a Board
member of a number of not-for-profit
organisations in an honorary capacity.
RALPH PLINER
BCom, LLB, LLM (First Class Honours,
Cambridge University, UK)
Independent non-executive Director
Mr Pliner was appointed to the TOWER
Australia Board on 19 December 2006
and is a member of the Audit, Compliance
and Risk Management Committee and the
Remuneration and Nominations Committee.
Mr Pliner has been a senior corporate
partner of the international law firm Baker
& McKenzie, a financial journalist in South
Africa and a lecturer in law at Melbourne
University. He has been involved in a wide
range of corporate, merger and acquisition
transactions and has also advised a number
of Boards of public listed companies on a
wide range of issues.
Mr Pliner is presently the non-executive
Chairman of Clean TeQ Holdings and
a Director of TOWER Australia Limited,
Australian Char Pty Limited, Saipem
Australia Pty Limited and Herzog Services
Australia Pty Limited, Limited. He is a
facilitator for the Australian Institute of
Company Directors in Sydney on Directors
duties in the Directors Course.
ELANA RUBIN
MA, BA (Hons), FAICD, FFIM, FAIM
Independent non-executive Director
Ms Rubin was appointed to the TOWER
Australia Board on 30 November 2007 and
is Chair of the Investment Committee and a
member of the Audit, Compliance and Risk
Management Committee.
Ms Rubin has extensive experience in
the superannuation, investments and
infrastructure sectors. She is presently
Chair of AustralianSuper and the Victorian
WorkCover Authority and a non-executive
Director of the Transport Accident
Commission and Industry Super Property
Trust and a Director of TOWER Australia
Limited. She was previously a non-executive
Director of Bravura Solutions.
JIM MINTO
CA
Managing Director
Jim Minto was appointed as the Managing
Director of TOWER Australia in November
2006 and is a member of the Company's
Investment Committee and a Director of
TOWER Australia Limited. He was previously
Group Managing Director of
TOWER Limited, overseeing the
trans-Tasman TOWER businesses and
reporting to the TOWER Limited Board.
A Chartered Accountant, Mr Minto has
held a number of other directorships and
appointments and has been active in
industry bodies throughout his career.
Mr Minto joined TOWER Limited in 1988 in
New Zealand, as head of the Group's Trust
business and led several other TOWER
businesses in New Zealand (including
Managed Funds and Health & Life) before
taking on the role of Chief Executive Officer
of TOWER New Zealand in early 2002. He
left the New Zealand business in November
2002 to take up the role of Chief Executive
Officer of TOWER Australia and then in
March 2005, he was appointed Chief
Executive Officer of the trans-Tasman
TOWER Limited Group.
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