34 RACING AUSTRALIA ANNUAL REPORT 2024 SHORT TERM AND LONG-TERM OBJECTIVES Racing Australia’s Vision • To be Australia’s favourite sport. • To conduct the world’s best races. • To be the world’s leading Thoroughbred Racing Industry. Core objective • Leverage existing assets further and identify new commercial opportunities. Core functions • National Rules • National Integrity • National and International Advocacy • National Coordination • National Research and Analysis • Identify and Maximise Best Practice • National Efficiency/Back Office • Recognise and reward excellence in the industry • Communicate our role • Seek to identify emerging issues including Animal Welfare and provide leadership via a common policy approach including minimum standards. KEY PERFORMANCE MEASURES The company measures its own performance through the use of both quantitative and qualitative benchmarks. The benchmarks are used by the directors to assess the financial sustainability of the company and whether the company’s short-term and long-term objectives are being achieved. This includes the publication of service standard performance reports monthly on the Racing Australia web site. SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS There were no significant changes in the state of affairs of the consolidated entity during the financial year. MATTERS SUBSEQUENT TO THE END OF THE FINANCIAL YEAR There has not been any matter or circumstance, other than that referred to in the financial statements or notes thereto, that has arisen since the end of the financial year, that has significantly affected, or may significantly affect, the operations of the company, the results of those operations, or the state of affairs of the company in future financial years. LIKELY DEVELOPMENTS AND EXPECTED RESULTS OF OPERATIONS Likely developments in the operations of the consolidated entity and the expected results of those operations have not been included in this report as the directors believe, on reasonable grounds, that the inclusion of such information would result in unreasonable prejudice to the consolidated entity. ENVIRONMENTAL REGULATIONS The consolidated entities operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of a State or Territory. INFORMATION ON DIRECTORS Peter V’landys AM – Director Director, Racing New South Wales, Chief Executive Officer, Racing New South Wales, Chairman, Australian Rugby League Commission, Member NSW Arts & Culture Advisory Committee, Secretary, Racing Appeal Tribunal, Secretary, Racing NSW Appeal Panel, Chairman, Racing Product Committee, Chairman, Racing NSW Animal Care and Ethics Committee, Member, Product Supply Advisory Group, Chairman, National Jockeys Safety Committee, Director, RacingCorp Pty Ltd, Chairman, Australian Racing and Equine Academy. Racing Australia Committees: Chair, Australian Classifications Committee, Chair, Finance, Governance & Remuneration Committee. Former: Director, Racing Information Services Australia, Executive Member, Australian Racing Board. Awarded Member of the Order of Australia in the Australia Day honours for services to the Racing Industry in 2014 Qualifications: B Com (Acct) Peter Sweney – Alternate Director to Peter V’landys AM General Counsel Racing NSW. Former: Senior Associate & Senior Solicitor – Minter Ellison, Solicitor – Quinlan Miller & Treston, Articled Clerk – Primrose Couper Cronin & Rudkin. Qualifications: B Law (University of Queensland), B Com (University of Queensland), Admitted as a solicitor in Queensland & NSW, On the roll of Practitioners of the High Court. Timothy Eddy – Director Chair, Racing Victoria Limited, Non-Executive Director, Western Sydney Airport, Chair, The Red Fox Group, Chair, Rennie Advisory, Chair BIO101. Former: Managing Partner Operations – Oceania, Ernst & Young, Global Vice Chair – Ernst & Young Global Services Qualifications: B Comm (Melbourne University), AICD, FCA. DIRECTORS’ REPORT FOR THE YEAR ENDED 30 JUNE 2024
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