Corporate Governance

Overview

Active corporate governance supports value creation

Z’s board believes it should relentlessly focus on four matters: context, strategy, risk, and assurance.

Our board is entirely comprised of independent non-executive directors, leading a highly credible and capable management team with significant experience in a range of sectors, including fuel supply chain operations and retail fuel marketing.  The board make up is regularly reviewed against a skills matrix which we publish in our annual report.  The matrix considers Z’s current and future strategy and a range of other factors to ensure the appointment of a diverse range of talent and experience best suited to lead Z into the future.

The board meets eight times a year for two full days; every two months plus additional meetings at half year and full year results. There are three standing committees of the board; the Audit and Risk Committee; People and Culture Committee; and the Health Safety Security and Environment (HSSE) Committee.  The board can put together ad-hoc committees such as a takeover committee (see Z’s Takeover Policy) from time to time as the board deems necessary.

The board adheres to the NZX Corporate Governance guide and the FMA Corporate Governance Handbook Principle 8 on Shareholder relations and stakeholder interests, including this investor centre which full complies with recommendation 8.1 and 8.2 for publishing clear policies and up-to-date information.

Our board is committed to working both inside and outside the boardroom.  Each year the board engages in structured learning and stakeholder engagement and board members attend a wide range of activities such as Z’s safety day (including participation in “Safety Walk and Talks” throughout Z’s operations), retailer conferences and site visits.

Z’s board is committed to Z’s stands including diversity and inclusion, focusing on the best outcomes for Z.  Our board has a range of age groups, backgrounds, experience, and a strong gender balance.