2013 AnnuAl RepoRt - Australian Grand Prix

• Ken Ryan AMMr Ryan was appointed to the board of the Australian Grand PrixCorporation on 8 August 2006. Mr Ryan is the Regional GeneralManager Victoria and Southern Australia for Qantas. He has worked forQantas for 17 years in a range of senior management positionsincluding Group General Manager Marketing, Head of CorporateDevelopment, and Chief Executives’ Representative, Asia. Mr Ryan isalso a board Member of Victorian Major Events Corporation andAmbulance Victoria and a Commissioner of the Australian SportsCommission.He was made a Member of the Order of Australia in June 2012 forservice to the community through his support for Children’s and Youth Charities Tourismand Sport.• William “Bill” BownessBill’s initial work background was in banking and investmentbanking. He was the Founder, Chairman and CEO of Melbournebased property developer Wilbow Corporation Pty. Ltd. Established in1976, offices were subsequently established in Brisbane, Queensland,Dallas United States and Auckland, New Zealand (1989-2004). TheAustralian operations were sold to a major public company in late 2006and the Dallas operations retained. He was appointed a Director ofwhat is now Housing Choices Australia in 2007, a Member of AustralianGrand Prix Corporation in 2008 and a Director of Centro Retail Trust from2009 to 2011. From 2005 to 2009, he was a Director of Defence HousingAustralia (DHA) and since 2009 has been a Member of the Monash University EstatesCommittee. He was appointed to the Board of Places Victoria in October 2011 and inDecember 2011 to the Latrobe University Infrastructure and Estate Committee. Bill was Chairof the Monash Gallery of Art Committee of Management from 1998 to 2010 and is a Trustee ofthe Monash Gallery of Art Foundation. He was appointed a Member of the National Galleryof Victoria Foundation and The Australian Ballet Foundation in 2010. He is currently activelyinvolved in various cultural, community and philanthropic activities. He is the Chair of WilbowGroup Pty. Ltd. which is involved in the provision of structured property finance in Australia andin property development in USA.Audit and Risk Committee membership and rolesThe Audit and Risk Committee consists of the following members:• Bill Bowness (Chair) *• Laura Anderson• Alan Oxley* Mr Bill Bowness retired from the Chair of the Audit and Risk Committee from July 2013.The main responsibilities of the Audit and Risk Committee are to:1. review and report independently to Members on the Annual Report and all other financialinformation published by the Corporation;2. assist the Management of the Corporation in reviewing the effectiveness of the internalcontrol environment;3. determine the scope of the internal audit function and ensure that its resources areadequate and used effectively, including coordination with the external auditors; and4. oversee the effective operation of the risk management framework.Australian Grand Prix Corporation Annual Report 2013 1414Australian Grand Prix Corporation Annual Report 2013