Corporate Governance

The primary objective for Cbus is to ensure that all investments are managed in the best interests of members.  As shareowners, Cbus believes that it has the obligation to seek to ensure that the companies it invests in are directed and controlled by the boards of directors and senior executives in an appropriate way which will enhance their performance over the longer term, and thereby produce the best financial outcome for members.

For this reason, Cbus monitors and becomes actively involved in the governance and reporting practices of the Australian companies in which it invests. 

Cbus has developed a policy and set of guiding principles for determining the actions to be undertaken when corporate governance issues arise.  One of the main ways in which shareholders can be active in the governance of the companies they invest in is through voting at the company meetings.  Cbus has therefore adopted an active involvement policy in which it uses the Fund's voting power in general meetings of company shareholders.  Cbus will generally oppose proposals such as:

  • Election of inappropriate directors, particularly where there is not a majority of independent directors;

  • Excessive remuneration arrangements;

  • Company restructures, take-overs, mergers or de-mergers, where these are not clearly in the interest of shareholders;

  • Any changes to voting rights that restrict shareholder control over the board; and

  • Appointment of auditors who are not independent.

A record of the proposed resolutions for 2005 and 2006  that Cbus voted against can be found below.

How to Register
Employers LinkYour Tax File Number