The pathway: build your executive track record, complete the AICD Company Directors Course (aicd.com.au) and its assessments to earn your GAICD, join audit or risk committees at smaller listed or unlisted companies first, engage executive search firms with a board practice (Spencer Stuart, Egon Zehnder, Korn Ferry), and use your professional network. Many first NED appointments come through existing board connections. Source: AICD, aicd.com.au.
Core governance documents: ASX Corporate Governance Principles and Recommendations (4th edition, asx.com.au), the Corporations Act 2001, ASIC Regulatory Guides, the Fair Work Act 2009, and the Modern Slavery Act 2018. For regulated industries (banking, insurance, super): additional APRA Prudential Standards. For ASX-listed companies: continuous disclosure obligations under ASX Listing Rules. Source: ASX Corporate Governance Council, ASIC, APRA.
STI (also called bonus) is typically paid annually, based on financial and non-financial KPIs measured over the year, and paid in cash or deferred equity. LTI is equity-based (performance rights, restricted shares) vesting over 3 to 4 years subject to performance hurdles such as Total Shareholder Return (TSR) relative to peers or absolute EPS growth. Both are commonly subject to malus and clawback provisions, which APRA's Prudential Standard CPS 511 requires for regulated banks, insurers and super funds. Source: Guerdon Associates, guerdonassociates.com; APRA, apra.gov.au.
The Company Directors Course (CDC) is the AICD's flagship governance education program. It covers strategy, risk, finance, legal duties of directors and board dynamics. Participants who pass the optional assessments and hold AICD membership earn the GAICD post-nominals. It is widely recognised by nomination committees and search firms as a credible governance signal, particularly for first-time board appointments. The course runs over 5 full days (face to face, virtual or residential) or self-paced online. Member prices range from about $6,000 (self-paced) to $13,950 (residential), with $9,990 for face to face. Source: AICD, aicd.com.au.
The statutory Superannuation Guarantee (SG) rate is 12% from 1 July 2025 (ATO). Most executive employment contracts specify a higher super rate (typically 12 to 15 percent of FAR). For 2026-27, the concessional contributions cap is $32,500 and the non-concessional cap is $130,000 per year. Total super balances above $3M attract an additional 15% tax on realised earnings from 1 July 2026, and an additional 25% above $10M (Division 296). Speak with a licensed financial adviser about your own situation. Source: ATO, ato.gov.au.