Corporate Governance

Yancoal Australia adopts an approach to corporate governance based on Australian law requirements and complying with the ASX Corporate Governance Council’s Principles and Recommendations.

The Yancoal Australia Board

The Yancoal Australia Board is responsible for the overall corporate governance of Yancoal Australia, including adopting appropriate policies and procedures and seeking to ensure that Yancoal Australia’s Directors, management and employees fulfil their functions effectively, responsibly and in accordance with Australian regulatory requirements.

The responsibilities of the Yancoal Australia Board and those responsibilities delegated by the Yancoal Australia Board to Board Committees and management are set out in the Board Charter.

Copies of the Board Charter and the Constitution are available for download.

Delegation to management

The Yancoal Australia Board will delegate responsibility for the day to day management of Yancoal Australia’s affairs, and implementation of the strategy and policy initiatives set by the Yancoal Australia Board, to the CEO, the Chair of the Executive Committee (CEC) and other senior executives.

The Executive Committee is a management committee comprising of the CEC, the CEO and a number of other senior executives.

The performance of senior executives will be reviewed by the Yancoal Australia Board annually against appropriate measures as part of Yancoal Australia’s performance management system for all managers and staff. The system includes processes for the setting of objectives and the annual assessment of performance against objectives.

On an annual basis, the Nomination and Remuneration Committee and subsequently the Yancoal Australia Board will formally review the performance of the CEO and the CEC. The Nomination and Remuneration Committee will also undertake an annual formal review of the performance of other members of the Executive Committee, based on similar criteria.

The Yancoal Australia Board will review and approve the annual review undertaken by the Nomination and Remuneration Committee.