Amcor 2010 Agm transcript

October 25, 2010

Stephen Mayne: I note that Amcor has only got a single, solitary female director, and I also ...

Chairman: is this speaking to this resolution?

Stephen Mayne:
it is. Yes.

I also note of your eight key personnel listed in the annual report, and only one is female, and her package comes in at the sixth highest.

So the question I have about the overall incentive arrangements for our managing director, in an environment where I think there is a lot of people would agree that the diversity issue is still appallingly handled and a terrible situation - an indictment on the culture in corporate Australia, and I've heard people make the comment that the only way you'll really get cultural change, is to hit the blokes where it hurts i.e on their bonuses, on their actual pay structure.

So I'd like to hear as to whether you have anything in the managing director's incentive arrangements which will help address Amcor's, pretty dreadful record it seems, when it comes to getting gender diversity in it's senior executive ranks, and at the board level.

Chairman: Mr Mayne if you had the benefit of going around our business globally, you would see that we are taking diversity as an objective, very very seriously. I mean, the key thing is that we ensure that we access the full compliment of the skill base that is out there - that is what we are endeavouring to do, and diversity is taken very seriously in all its forms, not only gender.

I know that has been one of your cry's in recent times, the gender element of diversity, but we are focused on all angles of it. We are very proud of what we have achieved, we have come a long way.

With the Alcan acquisition we will be stepping this whole focus up. We're getting new metrics on tracking diversity. It's a key objective of Mr McKenzie, personally I know he's focused on this, and we're very very proud of what we've achieved thus far.

I agree with you - the sentiment you're pursuing. We certainly as a company are determined to access the full talent pool - because that's what we're really talking about. Okay?

Thank you.