President’s Note

Dear Members,

Your Institute’s new Board was elected in May. I am pleased to report that your new Board comprises a mix of youth, experience, industry representation and has increased the number of female directors.

I want to thank the immediate past Board directors, Messrs. Ian Tarutia (former President), Paul Harris (former Vice-President), Srinivasan Sundaram (former Treasurer) and David Brown for their stewardship and contribution to PNGID. Their strong leadership has set a strong foundation for the next phase of growth. Ian and Paul, particularly, have had a  long association with PNGID and been instrumental in PNGID’s recent successes. We will continue to look to them for mentorship and guidance.

Setting direction and structure was my priority for the new Board. I am pleased to report that the Board has approved a draft Strategic Plan for the next 3 years that will provide a roadmap. Key to our thinking is that we want growth, we want to be relevant and we wish to make a positive impact. We have proposed a new mission and vision statement and set out the strategic priorities for our course of travel. The document will be placed on our website and we need your input on your aspirations for your Institute. We will set up a survey form online and we encourage you to provide your input, which is necessary for completion of the strategic plan. A soft copy of the strategic plan questionnaire will be available on our website.

The  Board has established three committees – Strategic Committee, Technical Committee and Events Committee, chaired respectively by Anthony Yauieb, Des Yaninen and Sharon Kupp. The Charters of each Board Committee will be placed on our website. The Board recognizes the talents, knowledge and skills of our membership. We also recognize that many want to contribute and so the charter allows members to join the Board Committee. I ask that you contact the Committee Chairs and our PNGID Executive Officer to indicate your interest in working with our teams.

The Audit Report for the 2017 Financial Statements was qualified. Your new Board has prioritized its response to this by moving to strengthen financial controls, ensuring policy documents are updated and exploring new tools and methods for financial management and reporting for efficiency and cost reduction. Our Treasurer Des Yaninen is at the forefront of these efforts.

Our flagship event, Directors’ Awards Night will be held on Thursday 27 September 2018 and stewardship for this has been vested with Directors Sharon Kupp and Vani Nades. Nominations for Awards has opened and we welcome applications. Details of these can be found on our website or by contacting the PNGID Secretariat. Tables and tickets are on sale for the event. I am pleased to announce that Mr. Rick Lee, former Chairman of Australian Institute for Company Directors and Chairman of Oil Search Limited, will deliver the keynote address “Governance -what’s hot and what’s not in today’s boardroom”.

The  Board  will finalize a communication strategy  that  will  utilize different platforms to ensure  that PNGID’s  principles and values, as well as your voice and your concerns are heard and communicated to our key stakeholders and to the general public. We believe is important that an appreciation and recognition of your role as Directors is crucial to corporate governance and better outcomes for the bodies you govern. We will also interact with you more regularly on new initiatives and issues that arise.

Anthony K. Yauieb
President
September 2018