The Board of Directors is committed to achieving and demonstrating standards of corporate governance appropriate to the size and operations of Telix. It continuously refines and improves Telix’s governance framework and practices to ensure they meet the interests of shareholders and other key stakeholders.
The Board believes good corporate governance:
is an integral part of the culture and business practices of Telix, and
will add to Telix’s performance to create shareholder value, while having regard to other stakeholders and an appropriate risk and return framework.
Learn more about our key corporate governance policies and practices in our Corporate Governance Statement at www.telixpharma.com/investor-centre/corporate-governance
2023 governance highlights
In May 2023, we published our inaugural Modern Slavery Statement for the 2022 financial year, including our key focus areas for 2023
In August 2023, the Board visited our Americas headquarters in Indianapolis and met with the Americas leadership team and key distributors
In September 2023, our Board Chairman visited our newly opened European manufacturing facility, TMS, in Brussels South, Belgium and met with the EMEA leadership team
On 18 December 2023, we announced to the market that the Australian Securities Exchange (ASX) had advised that Telix was no longer required to lodge quarterly cash flow and activities reports under Listing Rules 4.7B and 4.7C due to its record of positive net operating cash flows over the past 12 months
In December 2023, we completed an independent Board effectiveness and performance review, and
During the reporting period, we updated our Board and Committee Charters and key corporate governance policies, including our Code of Conduct, Continuous Disclosure Policy, Securities Dealing Policy, Anti-Bribery and Anti- Corruption Policy, Whistleblower Protection Policy, and Privacy Policy. We also published our Tax Code of Conduct.
Governance structure
Our governance framework fosters a high-performing and respectful culture and underpins our values. Our Board Charter is central to the governance framework and embodies our purpose, strategy, and values. It documents membership, and sets out the operating procedures and allocation of responsibilities between the Board and management.
The Board, with assistance from its standing Committees, in particular the Audit and Risk, and People, Culture, Nomination and Remuneration Committees:
approves Telix's strategic objectives, budgets, statutory financial reports and other periodic corporate reports
monitors operational and financial performance, and strategic people and culture matters
sets the risk appetite within which the Board expects management to operate and oversees Telix’s risk management framework, compliance system and internal control framework, and
oversees Telix’s management, performance and corporate governance frameworks, including ensuring that mechanisms are in place for making timely and balanced disclosure to shareholders and the market regarding Telix’s performance and major developments affecting its state of affairs.
The Board has delegated the day-to-day management of Telix and the implementation of approved business plans and strategies to the MD & CEO, who in turn further delegates to senior management (as appropriate).
Processes are in place to ensure the delegation flows through the Board and its Committees to the MD & CEO, GET and other senior leadership, and into the organisation. The MD & CEO and GET are responsible for the day-to-day management of the Group. This governance framework also facilitates the flow of information and accountability from our people, through management levels, to the Board.
Corporate governance
Board composition as at 31 December 2023
The Board focuses on maintaining an appropriate mix of skills and diversity in its membership, including experience in the radiopharmaceuticals industry, international business, finance and accounting, and risk, compliance and people management, and gender diversity. A detailed matrix of Board skills is available in our 2023 Corporate Governance Statement, available at www.telixpharma.com/investor-centre/corporate-governance
