Cricket Australia

http://www.cricket.com.au/Global Items/news/2012/10/24/agm

AGM delivers governance change

UPDATED 26 October, 2012 2:12PM AEST | by Cricket Australia 1

Australian cricket has authorised the most significant changes to Cricket Australia’s governance since the organisation was set up in 1905, setting CA on a path towards having a fully independent Board of nine Directors by 2017.

Today’s CA Annual General Meeting voted for constitutional and by-law changes, and also elected Jacquie Hey, David Peever and Kevin Roberts as CA’s first independent Directors.
 
A nine member Board consisting of six state-based representatives and the new independent Directors will hold its inaugural Board meeting in Melbourne tomorrow, replacing CA’s historic 14-member Board of Directors appointed by State Cricket Associations.
 
Under changes formally ratified today, CA’s new Board will start moving in 2015 towards becoming a Board of nine fully-independent Directors by 2017.
 
“It is an historic day for Australian Cricket,” CA Chairman Wally Edwards told the AGM today.
 
He thanked fellow Directors and State Cricket Associations for the nature and outcome of often complex discussions over the last year and said Australian cricket owed CA Directors, particular those who were effectively voting themselves out of jobs they loved, a debt of gratitude that Australian cricket did not fully realise yet.
 
“The discussion across Australian cricket has been characterised by a willingness to think and act collectively in the best interests of the game we love and serve,” he said.
 
He also noted on-field success is not possible unless cricket has its off-field game in good order.
 
“Off-field success doesn’t guarantee on-field success but is a necessary starting point,” he said.
 
CA’s AGM also voted today to accept CA’s Annual Report and financial accounts.
 
CA reported a record operating surplus of $45.6 million on revenue of $265 million, which was up $97 million, allowing distributions to State Cricket Association members to increase 12% from $63.2 million to $70.5 million. The main driver was the value of media rights for Australian games versus India telecast into the Indian subcontinent during last summer. CA noted that its revenue varies annually due to the varying value of media rights associated with different touring teams. CA accordingly operates an expenditure smoothing policy to ensure consistency in annual grants to members and player payments over each four year cycle.

Click here for Cricket Australia's Annual report

The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of Cricket Australia

First Posted 24 October, 2012 7:32PM AEST

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