The Corporate Governance Framework and practices of Woolworths Group are set out in a number of key documents and policies. A summary of these documents and policies, along with copies of the documents, policies and charters are set out below.
Each year, the Woolworths Group releases a Corporate Governance Statement that lays out the governance framework adopted by the Board, and details its work over the past financial year.
The Woolworths Constitution outlines the rules and principles governing our business.
The current Constitution was proposed and adopted by shareholders at the Annual General Meeting (AGM) on 16 November 2007. It was later amended following the 2009 AGM, the 2010 AGM and the 2017 AGM.
The Board of Directors act on behalf of the shareholders in supervising the Company and in upholding good corporate governance. The Group Executive Committee is responsible for management decisions and operations.
Information on the role and composition of the Board of Directors and of the Group Executive Committee can be found below.
The Board Charter sets out the role, structure, and processes of the Woolworths Group Board or Directors.
It outlines their powers, their responsibilities, and how they can best represent the interests of our shareholders, while regarding international best practice and applicable laws.
The Board of Directors has established four Committees – each designed in accordance with the Charter to help the Board deliver on its responsibilities.
Each Committee assists the Board by allowing Directors to focus on one specific area of governance, while reporting on all decisions and making necessary recommendations to the Board.
The continued growth and success of the Woolworths Group depends on us being able to reflect and respond to the needs of an ever-changing and uncertain world.
As a large, dispersed and complex organisation, we are uniquely vulnerable to a range of legal and financial risks that need to be mitigated quickly and easily.
In order to maintain our commitment to and ensure we’re always operating within a place of moral, legal and ethical integrity, we have developed a rigorous and mandatory Code of Conduct.
This code is a principle we adhere to without exception, and we expect each and every one of our team members to adopt it as their own.
Woolworths Group Limited has a Continuous Disclosure Policy. The purpose of the Policy is to:
The Woolworths Group Limited Continuous Disclosure Policy is available below.
Woolworths values its reputation for excellence in corporate governance, compliance and fair dealing in its securities, including shares, options and performance rights.
The Woolworths Group Securities Trading Policy promotes and maintains the Company’s reputation.
The Policy summarises the law relating to insider trading and details the Company’s requirements with regards to dealings in the securities of both Woolworths and, where applicable, other companies. The Policy applies to Group directors, officers and employees, as well as certain consultants and contractors.
The objectives of the Policy are:
The Policy also aims to assist Woolworths in its disclosure and reporting requirements.
We are 100% committed to fostering a workplace that celebrates and embraces diversity in all its forms.
Through a range of initiatives, we aim to promote equal opportunities in every facet of our business with a particular focus on indigenous employment and nurturing women in management.
At Woolworths we care about and are committed to the safety, health and wellbeing of our customers, team members, contractors, business partners and visitors.
Our vision is to become one of the safest places to work and shop.
Our aspiration is ‘Destination ZERO’ where people go home from work or shopping free from injuries or illness.
At Woolworths, we are committed to open and positive relationships with all of our suppliers.
We recognise, however, that a situation may arise where a supplier feels an important issue can’t be dealt with directly with us, and where the supplier would prefer to use an independent and confidential avenue for raising the issue. We have created the Supplier Speak Up Service for this purpose.
Supplier Speak Up Policy
Our team is a top priority at Woolworths Group. This is why we strive to create a supportive environment that ensures everyone can feel valued, respected and have the opportunity to thrive.
As part of this commitment, our Team Member Speak Up service offers an independent avenue (external to Woolworths Group) where you can confidentially raise matters if you ever feel that a concern you have can’t be dealt with internally.