Governance Governance structure CSL believes that its governance framework fosters a high performing and respectful culture while underpinning CSL’s Values. CSL’s Values are the core of how CSL employees interact, make decisions and solve problems. The Board has a formal charter documenting its role, responsibilities, membership, operating procedures and the allocation of responsibilities between the Board and management. CSL’s Board Charter is central to the governance framework at CSL as it embodies our corporate purpose, strategy and values. In addition to this, CSL is subject to the Commonwealth Serum Laboratories Act 1961 (Cth), which is an overarching governance control. CSL’s Board of Directors is responsible for overseeing the management of CSL and providing strategic direction. It monitors operational and financial performance, strategic human resource matters and approves CSL’s budgets and business plans. It is also responsible for overseeing CSL’s risk management framework, compliance system and internal control framework, and approving statutory financial reports. The Board has delegated the day‑to‑day management of CSL, and the implementation of approved business plans and strategies, to the CEO and Managing Director, who in turn further delegates (as appropriate) to senior management. The CSL Board at CSL, Melbourne. Reading from left to right (standing): Dr Megan Clark, Professor Andrew Cuthbertson, Ms Fiona Mead (Company Secretary), Dr Paul McKenzie (CEO and MD), Professor Duncan Maskell and Ms Alison Watkins. Reading from left to right (seated): Ms Carolyn Hewson, Dr Brian McNamee, Ms Samantha Lewis and Ms Marie McDonald. 56 Limited Annual Report 2023/24
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