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Directors' Report

Australia Business Arts Foundation
(Creative Partnerships Australia is a business name of Australia Business Arts Foundation)

The Directors submit the Australia Business Arts Foundation financial report for the financial year ended 30 June 2019.

Directors
The names of the Directors in office at any time during the year and to the date of this report are:

  • Ms Catherine Walter AM, Chair (from 16 December 2018)
  • Ms Carol Schwartz AO, Chair (until 15 December 2018)
  • Ms Samantha Meers AO, Deputy Chair
  • Mr John Barrington AM (from 3 April 2019)
  • Ms Rosheen Garnon
  • Adjunct Professor the Honourable Chris Pearce (from 3 April 2019)
  • Mr Dan Rosen
  • Mr Michael Smith (until 4 August 2018)
  • Professor Susan Street AO
  • Ms Brett Torossi (until 15 May 2019)
  • Mr Leonard Vary (from 14 February 2019)

Mr Smith’s term ended on 4 August 2018. Ms Schwartz’s term ended on 15 December 2018. Ms Torossi’s term ended on 15 May 2019.

Responsible Minister
The Minister responsible for the company from 1 July 2018 to 25 May 2019 was Senator the Hon Mitch Fifield, Minister for Communications and the Arts. From 26 May 2019 the Minister responsible for the company is the Hon Paul Fletcher MP, Minister for Communications, Cyber Safety and the Arts.

Company Secretary
Ms Emma Calverley held the position of Company Secretary from 1 July 2018 to 14 October 2018. Mr Tim Stitz held the position of Company Secretary from 15 October 2018 to 20 January 2019. Ms Jayne Lovelock held the position of Company Secretary from 21 January 2019 to 30 June 2019.

Principal Activity
The principal activity of the company during the financial year was the promotion and facilitation of philanthropic and business support for the cultural sector in Australia.

Operating Trading Result
The net result for the year ended 30 June 2019 was a surplus of $2,551,483.

Dividends
No dividends have been paid or declared during the year and no dividends are proposed.
The company is prohibited by its Constitution from making a distribution to its members.

Significant Changes In The State Of Affairs
There were no significant changes in the state of affairs of the company during the year 1 July 2018 to 30 June 2019.

After Balance Date Events
Other than those outlined in this report, there are no matters or circumstances that have arisen since 30 June 2019 which significantly affected, or may significantly affect, the operations of the company, the results of those operations or the state of affairs of the company in future financial years.

Future Likely Developments
The company will continue to provide support for greater private sector investment in the arts through its programs and initiatives, including matched funding, sector skills development and advocacy activities, and the management of the Australian Cultural Fund.

Meetings Of Directors
During the financial year, 8 meetings (including committees of Directors) were held. Attendances by each Director were as follows:

Board of Directors and Audit and Risk Committee

Board of Directors

Audit and Risk Committee

Eligible to Attend

Attended

Eligible to Attend

Attended

Ms Catherine Walter AM

2

2

2

2

Ms Carol Schwartz AO

2

2

2

1

Ms Samanatha Meers AO

4

4

3

3

Mr John Barrington AM

1

1

0

0

Ms Rosheen Garnon

4

3

4

4

Adjunct Professor the Hon Chris Pearce

1

1

0

0

Mr Dan Rosen

4

3

0

0

Professor Susan Street AO

4

4

0

0

Ms Brett Torossi

4

4

4

1

Mr Leonard Vary

2

2

1

1

Ms Catherine Walter AM, Chair (from 16 December 2019)
LLB, LLM, MBA, FAICD
Director (Non-Executive)

Catherine has served on the governing bodies of a number of arts organisations including being a member of the Nugent Major Performing Arts Inquiry and a director of: Australia Council’s Major Performing Arts Board, Australian Ballet School, Melbourne International Arts Festival and VicOpera.

Currently chair of Financial Adviser Standards and Ethics Authority, Melbourne Genomics Health Alliance, a trustee of Helen Macpherson Smith Trust and a director of Reserve Bank of Australia’s Payments System Board and Australian Foundation Investment Company; Catherine has previously been Managing Partner of the Melbourne office of Clayton Utz, a Commissioner of the City of Melbourne, Chair of Fed Square and Australian Synchrotron, and a director of ASX, NAB, Melbourne Business School and Orica. In 2003 she was honored as a Member of The Order of Australia for service to business, particularly as a director of a range of public companies, to the arts, to the law, and to the community through the Melbourne City Council.

Catherine is a member of Chief Executive Women.

Ms Carol Schwartz AO, Chair (until 15 December 2018)
BA, LLB, MBA, FAICD
Director (Non-Executive)

Carol has extensive experience in business, property, the arts, and community organisations and has been a director on many public company and government boards. Carol is currently the Chairman of Our Community and Founding Chair of the Women’s Leadership Institute Australia. Some of Carol’s other directorships include: Director, Stockland; Director, Reserve Bank of Australia; Director, Qualitas Property Partners; Member Harvard Kennedy Women’s Leadership Board and a BoardLinks champion.

Carol was awarded an Officer of the Order of Australia in the 2019 Queen’s Birthday Honours for her distinguished service in the community as a supporter of women in leadership roles, to social justice advocacy, and to business. Carol was awarded an Honorary Doctorate from Monash University in 2018 and was recognised by Ernst & Young as the 2018 Champion of Entrepreneurship, Southern Region. Carol also received the Centenary Medal in 2001 in recognition of her outstanding service as a leading business executive and board participant.

Carol was awarded a Monash University Fellowship in 2010 in recognition of her significant contribution to the community through her professional distinction and outstanding service as a member of the alumni. In March 2011, Carol was inducted into the 2011 Victorian Women’s Honour Roll. In October 2012, Carol was recognised as one of Australia’s most influential women in the Australian Financial Review and Westpac’s Inaugural 100 Women of Influence Awards.

Ms Samantha Meers AO, Deputy Chair
BA LLB MLITT FAICD
Director (Non-Executive)

Samantha is Executive Deputy Chairman of property and investment group the Nelson Meers Group, and co-founder and trustee of the Nelson Meers Foundation. Her current board appointments include Chairman of Belvoir St Theatre; Chairman of Documentary Australia; Chairman of the Brett Whiteley Foundation; a trustee of the Art Gallery of NSW. Ms Meers also sits on advisory boards for the University of Sydney and the Centre for Social Impact at the University of NSW. Samantha began her career as a commercial lawyer with Mallesons Stephen Jacques (now King and Wood Mallesons), and her executive career included senior management roles in the media sector. She is a member of Chief Executive Women and a fellow of the Australian Institute of Company Directors.

Mr John Barrington AM (from 3 April 2019)
BBus, MBA, FAICD, FAIM
Director (Non-Executive)

John is an acknowledged leader in strategy and governance, advising boards and CEOs of some of Australia’s leading corporations, government enterprises and arts and culture organisations. He retired as Chair of Perth Festival in 2019, having served on the board for seven years. He is currently a board member of John Curtin Gallery. He is Executive Chairman of Artrya, developing Artificial Intelligence solutions to diagnose and predict heart disease.

He holds a Bachelor of Business from Curtin University, an MBA from the Australian Graduate School of Management and is a Fellow of the Australian Institute of Company Directors and of the Australian Institute of Management WA. He was appointed a Member of the Order of Australia in 2019, was a 2018 Western Australian of the Year Award Finalist and in 2017 received the Australian Institute of Company Directors PwC Award for Director Excellence in the Not-for-Profit Sector.

Ms Rosheen Garnon
BEc/LLB FCA, CTA, GAICD
Director (Non-Executive)

Rosheen has extensive senior executive experience in the professional services sector, both locally and internationally. Previously, she was the National Managing Partner for KPMG Australia’s Taxation Division and a member of the Executive Leadership Team of KPMG Australia.

Currently, Rosheen is the Non-Executive Chair of Alexium International Group Ltd and a Non-Executive Director of Australian Rail Track Corporation Limited and The Smith Family. She is a Member of the Board of Taxation and a member of the Major Performing Arts Panel at the Australia Council for the Arts.

Rosheen holds a Bachelor of Economics and a Bachelor of Law from the Australian National University. She is a Fellow of Chartered Accountants in Australia and New Zealand, a Chartered Tax Advisor and a Member of Chief Executive Women.

Adjunct Professor the Honourable Chris Pearce (from 3 April 2019)
JP, FAICD, FAMI, BBus, MBA, GCDiv
Director (Non-Executive)

Chris Pearce is Managing Partner, South East Asia at NGS Global based in Australia. He is an accomplished senior executive with wide-ranging domestic and international experience to CEO/MD level in ‘blue chip’ companies in the telecommunications, information technology and entertainment industries. Chris has been a Member of the Australian Parliament, as well as a Member of the Federal Government Ministry responsible for financial services, business law and consumer affairs, and later as Shadow Minister, until his decision to leave Parliament and return to the corporate world.

He has served on commercial, government and not-for-profit boards and is currently Deputy Chairman and Non-Executive Director at the St Vincent’s Institute of Medical Research and the External Representative on the Education & Community Engagement Board Committee of the Melbourne Symphony Orchestra.

Chris is an Adjunct Professor at Deakin University providing industry expertise and insight in the areas of Executive Leadership, Professional Development and Strategy/Value-Creation. He has completed a Management Development Process Program at the Monash Mt Eliza Business School, a Bachelor of Business from Monash University, a Master of Business Administration (MBA) from Deakin University, an Executive Program in Strategy and Organisation at Stanford University and a Graduate Certificate in Divinity from the University of Divinity.

In 2019, he will commence a Graduate Certificate in Positive Psychology at Central Queensland University. Chris is a Justice of the Peace, Fellow of the Australian Institute of Company Directors, Fellow of the Australian Marketing Institute, Member of the Royal Victorian Association of Honorary Justices and a Member of the Royal School of Church Music.

Mr Dan Rosen
LLM, LLB (Hons)/BCom
Director (Non-Executive)

Dan has spent his career at the intersection of the creative industries and technology, working in roles as an executive, policy maker, lawyer, and artist. As Chief Executive of ARIA and PPCA, the two peak bodies for the Australian recorded music industry, he has led both organisations through the transition to an increasingly digital music market. Prior to his current role, Dan was based in New York, working for digital media company KIT Digital. Before leaving for the United States, Dan worked as Advisor to the Minister for Communications, Information Technology and the Arts, responsible for broadband and innovation policy. Dan started his career as a lawyer with Minter Ellison, specialising in media and technology clients. He is a Fulbright Scholar and completed a Masters of Law at New York University, where he was also a Deans Scholar. An accomplished
musician and songwriter, Dan won the Triple J Unearthed competition in 2003 and has independently released two albums. He is former Chair of the New South Wales Creative Industries Taskforce, and member of the Victorian Government’s Creative Victoria Taskforce.

Mr Michael Smith (until 4 August 2018)
Hon DLitt, FAICD
Director (Non-Executive)

Michael has a history in digital, strategy and market research.

Michael is currently the Principal of boutique strategic development consulting firm Black House. He is the Chair of 7-Eleven Stores PL, Starbucks Australia, the Lionel Samson Sadleirs Group and Pioneer Credit Ltd. Michael is the Western Australian Patron of children’s charity Variety and the Co3 Dance Company.

Previously held roles include Chair of iiNet, Synergy, Verve, the Perth International Arts Festival, Barking Gecko Theatre Company and the West Coast Eagles. He was National Chair of the Australian Institute of Company Directors, Deputy Chair of Automotive Holdings Group, State President and National Director of the Australian Marketing Institute, National Chair of Judges for EY Entrepreneur of the Year and a Director of HOME Building Society.

In 2014, Michael was awarded a Doctor of Letters from the University of Western Australia for his contribution to the business sector and the arts. Michael is also the recipient of the Patron’s Medal, His Royal Highness Prince Phillip, for his services to marketing by the Australian Marketing Institute.

Professor Susan Street AO
MA
Director (Non-Executive)

Susan is Executive Director, Queensland University of Technology (QUT) Precincts and formally Executive Dean, Creative Industries Faculty at QUT. Previously held roles include Head of Dance, QUT; Dean, School of Dance, Hong Kong Academy for Performing Arts; Chair, Dance Fund; Council Member of the Australia Council; Trust Director, Brisbane Arts and Environment Trust, Brisbane City Council; Chair, Artistic Advisory Committee and Board Member, Hong Kong Ballet; and Arts advisor to Hong Kong Arts Development Council and the Leisure and Cultural Service Department of Hong Kong Government. Susan was Board Member, Australia-China Council
(DFAT); Trustee, Queensland Performing Arts Trust; Australasian Advisor, Royal Academy of Dance in London and Arts Investment Advisory Board, Queensland Government. She is the immediate past Chair, Board of Trustees of the Queensland Art Gallery & Gallery of Modern Art; current Board Member, The Australian Ballet; a member of the Australia Singapore Arts Group; Advisor to Arts Queensland on the new Theatre at QPAC.

Ms Brett Torossi (until 15 May 2019)
Director (Non-Executive)

Brett is Founder, Owner and Managing Director of New Ground Network. As a property developer
and businesswoman, she focuses on creating and developing innovative, sustainable and commercially successful spaces, focusing on tourism, residential and commercial developments.

Brett’s other appointments include Chair, Tasmanian Heritage Council; Director, Tourism Tasmania; Chair, Tourism Tasmania Finance Audit and Risk Committee; Non-singing Director, Festival of Voices; Trustee, Tasmanian Museum and Art Gallery; Chair, Tasmanian Museum and Art Gallery Audit Committee; Director, Tasmanian Development Board; and Member, Tasmanian Statewide Brand Steering Group.

Mr Leonard Vary (from 14 February 2019)
BCom, LLB, Grad Dip App Fin and Inv, LLM, FAICD
Director (Non-Executive)

Leonard is Chief Executive Officer of The Myer Foundation and Sidney Myer Fund. Leonard is a board member of the Cranlana Centre for Ethical Leadership. He is a former director of Malthouse Theatre, a past Chair of the Centre for Contemporary Photography, and a past Vice President of the Melbourne International Arts Festival.

Prior to his appointment to The Myer Foundation and Sidney Myer Fund, Leonard was an Executive Director of the Fox Private Group and the General Counsel, President HR and a Director of the Linfox Group. Earlier in his career Leonard was in private practice at Clayton Utz, a leading Australian law firm.

Directors’ Benefits
The Directors are paid such remuneration and allowances as determined by the Remuneration Tribunal out of the monies of Creative Partnerships Australia. Since 1 July 2018, no Director of the company has received or become entitled to receive any other benefit, other than a benefit included in the aggregate amount of emoluments received or due and receivable by Directors shown in the accounts or the fixed salary of a full-time employee of the company, by reason of a contract made by the company with the Director or any related party.

Indeminities And Insurance Premiums
During the financial year, the company has paid premiums to indemnify Directors against third party legal proceedings arising out of their conduct while acting in the capacity of Director of the company. Indemnity is provided to Directors under the coverage of the company’s insurer, Comcover.

The company has not, during or since the financial year, in respect of any person who is or has been an officer or auditor of the company or a related body corporate:

  • indemnified or made any relevant agreement for indemnity against a liability, including costs and expenses in successfully defending legal proceedings; or
  • paid or agreed to pay a premium in respect of a contract insuring against a liability for the costs or expenses to defend legal proceedings.

Proceedings On Behalf Of The Company
No person has applied for leave of Court to bring proceedings on behalf of the company or intervene in any proceedings to which the company is party for the purpose of taking responsibility on behalf of the company for all or part of those proceedings.

The company was not a party to any such proceedings during the year.

Ministerial Directions And Government Policy Orders
Under section 93 of the Public Governance, Performance and Accountability Act 2013 (PGPA Act), the Finance Minister may, after consultation with the Minister responsible for the order, make a government policy order that applies to wholly owned Commonwealth companies. There has been no application of Section 93 of the PGPA Act in this financial year.

There were no directions issued to the company by the responsible Minister, under the company’s constitution, or under any Act or instrument.

Auditor’s Independence Declaration
The lead auditor’s independence declaration for the year ended 30 June 2019 has been received and can be found in the Directors’ Report.

Signed in accordance with a resolution of the Board of Directors.

Ms Catherine Walter AM
Director

Ms Rosheen Garnon
Director

2 September 2019