AWI chairman Jock Laurie.

AUSTRALIAN Wool Innovation chairman Jock Laurie will stand down at the 2025 AWI board elections, consistent with a 2021 shareholders motion that instituted a 10-year tenure for directors.

Mr Laurie was elected by AWI shareholders to the board on 20 November 2015 and appointed as  chairman on 30 June 2021, following Colette Garnsey’s resignation.

AWI has confirmed that three current directors will need to retire or retire/rotate this year. The board is meeting later this month to decide which two other current directors will retire and/or seek re-election as part of the normal director rotation process.

An AWI statement today said all members of AWI’s board nomination committee for the 2025 director election will meet for the first time on Monday 16 June, 2025. The meeting’s agenda will be determined by the BNC.

The AWI BNC this year includes chair, Claudia Bels – as independent of the wool industry and AWI;  George Millington and Neil Jackson – as independent non-executive directors of the company (other than the chair of the company); NSW wool grower Rich Keniry – as a representative of the wool industry independent from the company and nominated by the Wool Industry Consultative Panel, and; Michael Rosmarin of Johnson Partners — as coming from an international executive search firm.

The AWI BNC is responsible for:

• identifying necessary and desirable director competencies;
• considering candidates standing for election or re-election at any general meeting of the Company; and
• making non-binding recommendations to shareholders in relation to the election or re-election of candidates. Those recommendations will be provided to shareholders in October.

AWI said no one who is a candidate for re-election as a director may be appointed as a member of the BNC. The opening date for receipt of shareholder nominations is Thursday 28 August and nominations close on Friday 12 September.

More information about the nomination process on AWI’s website or by contacting the company secretary, Lucy Meadley ([email protected] 02 8295 4121).