Overview
- The ASX has created the Advisory Group on Corporate Governance to replace its disbanded 19‑member Corporate Governance Council after disputes over proposed rule changes.
- Philip Lowe will work with the exchange to appoint a smaller set of members drawn from a cross‑section of issuers and investors, including superannuation leaders, listed directors, investment managers, company secretaries and stockbrokers.
- ASX chief executive Helen Lofthouse described the move as part of evolving Australia’s capital markets and an implementation of recommendations released last month.
- Lowe said the new body aims to establish practical governance practices that drive long‑term value for shareholders and listed entities.
- Lowe brings decades at the Reserve Bank of Australia, with his 2020 forward‑guidance episode and subsequent apology providing relevant public context to his appointment.