Endeavour Energy Annual Performance Report - Parliament of New ...

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Endeavour Energy is a statutory state-owned
corporation, established under the Energy Services
Corporations Act 1995 (NSW) and the State Owned
Corporations Act 1989 (NSW). It is governed, principally,
by the two statutes mentioned and its Constitution.
GOVERNANCE
Above: Trade Assistant, Gregory Braley, working to
install underground distribution cables to connect
Doonside Zone Substation.
Endeavour Energy’s
Board and Executive
believe good
governance is a
prerequisite for a highperforming
organisation
with a sustainable
future. It helps ensure
we deliver the outcomes
our shareholders
expect, supports our
people and business
operations and sets
the framework for
sound ethical, financial
and risk management
practices and effective
compliance and
auditing programs.
Board of Directors
In accordance with the Energy
Services Corporations Act
1995 (NSW), the State Owned
Corporations Act 1989 (NSW) and
the Constitution of Endeavour
Energy, the Board consists of the
Chief Executive Officer (Executive
Director), one Unions NSW nominee,
and at least two and not more
than five other directors.
All members of the Board of
Directors, with the exception
of the Chief Executive Officer,
are appointed by the voting
shareholders for terms of up to
five years. Appointments may be
renewed by the voting shareholders.
A vacancy in the office of director
(with the exception of the Chief
Executive Officer and Unions NSW
nominee) is filled by a nominee of
the voting shareholders.
Each non-executive director’s
remuneration is determined by the
voting shareholders and is paid
out of Endeavour Energy’s funds.
The Chief Executive Officer is not
entitled to additional remuneration
for being an Executive Director.
Role and responsibilities
of the Board
The Board is responsible for the
corporate governance of Endeavour
Energy, which includes setting the
strategic direction, establishing
performance targets as set out in
the Statement of Corporate Intent,
and monitoring the achievement
of those targets.
The Board undertakes to serve the
interests of the voting shareholders,
as well as its employees, suppliers
and customers and the broader
community, honestly, fairly, diligently
and in accordance with all applicable
laws. It delegates to the Chief
Executive Officer responsibility for
implementing the strategic direction
and for managing the day-to-day
operations of Endeavour Energy.
The Board of Directors operates
at all times in accordance with
its Charter which is designed to
complement the Constitution of
Endeavour Energy, the Director’s
Manual, and the Board’s Code
of Conduct.
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