High Standards of Corporate Governance are achieved when individual directors and the board as a whole acts ethically and in a manner consistent with the values of the business. Honesty, integrity, experience, ideas, courage, sound judgement and common sense are the core qualities of directors that lead to good corporate governance.
Ensuring these characteristics are widely represented by the board is the best way of providing a good corporate governance environment. While we accept that some measure of regulatory surveillance and process is necessary to validate the governance outcome, no legal or regulatory process will be a substitute for ensuring that directors and boards embrace the core values outlined above.
Corporate Governance describes how a company looks after the interests of its shareholders. It is achieved by ensuring that appropriate checks and balances exist. At Air New Zealand, it is the way we do business.