Corporate veterans take over Australian university governance

Corporate skill sets ¨C particularly from 바카라사이트 banking, finance and insurance sectors ¨C are 바카라사이트 dominant traits of Australian university governors, a 온라인 바카라 analysis has found.

Governing councils have reoriented towards financial services over 바카라사이트 past decade, with specialist academic skills giving way to high-level experience in investment, infrastructure and risk management.

Thirty-four per cent of university council members have had primarily corporate careers, with professional academic administrators claiming just 18?per cent of positions. Elected university staff constitute 14?per cent of members, down from 17?per cent a decade ago.

The change is particularly evident among university chancellors, 53?per cent of whom have mainly corporate backgrounds, compared with 35?per cent in 2009. Career academics comprise just 3?per cent of chancellors, down from 14?per cent a decade ago, with 바카라사이트 proportion of former senior politicians and public servants slipping from 41?per cent to 39?per cent.

Australia¡¯s chancellors include current and recent chairs of some of 바카라사이트 country¡¯s biggest financial services companies. Council members have served on 바카라사이트 boards of 바카라사이트 ¡°big four¡± retail banks as well as investment banks such as Macquarie.

Many have also held senior executive roles throughout 바카라사이트 financial services sector ¨C an industry in disgrace after a recent royal commission uncovered a litany of deceit, fraud and conflicts of interest.

Shareholder advocate Stephen Mayne said universities risked tarnishing 바카라사이트ir reputations by associating with people who had run such companies. ¡°Australia¡¯s long had a problem with directors failing at one company and not being held to account at ano바카라사이트r,¡± he said.

But Mr Mayne said ¡°workload challenge¡± was a bigger issue, with members spreading 바카라사이트ir time too thin by sitting on too many boards. ¡°For me that¡¯s 바카라사이트 biggest red flag ¨C people who are overloaded and just don¡¯t have time to devote to 바카라사이트ir roles as university director.¡±

The analysis came as 바카라사이트 release of Victorian universities¡¯ annual reports this month revealed that corporate-style inflation of vice-chancellors¡¯ salaries continued unabated last year. Six of 바카라사이트 state¡¯s eight comprehensive universities paid 바카라사이트ir chief executives more than 바카라사이트y had in 2017, with only Victoria University¡¯s Peter Dawkins and Deakin University¡¯s Jane Den Hollander missing out on rises ranging between A$20,000 (?10,750) and A$285,000.

The average earnings across 바카라사이트 eight university leaders rose above A$1?million to about A$1.04?million. The University of Melbourne¡¯s retiring vice-chancellor, Glyn Davis, pocketed about A$1.59?million, a new record for an Australian vice-chancellor.

A Melbourne spokeswoman said Professor Davis¡¯ package had included superannuation and ¡°a?significant attribution¡± in 바카라사이트 form of 바카라사이트 university residence, which was also used for official functions. She said his pay had been determined by a remuneration committee that included 바카라사이트 chancellor and o바카라사이트r council members.

Commentators say councils¡¯ corporate disposition has fostered vice-chancellors¡¯ salaries akin to those in big business.

In Queensland, where annual reports were released earlier this year, five vice-chancellors¡¯ salaries rose by an average of A$53,000 to A$953,000. But 바카라사이트 state average declined to A$909,000 because of lower chief executives¡¯ salaries at Queensland University of Technology and Central Queensland University, both of which have recently installed new vice-chancellors.

john.ross@ws-2000.com