Best Practice Corporate Governance at Collins Foods Limited with Fran Finucan

YS Up - Governance and Boards

In this episode of YS Up Governance and Boards Podcast, 3YS Owls Governance Consultants, Ainslie Cunningham and Deb Anderson interview the winner of Governance Top 100 2020, Fran Finucan. Fran is the company secretary for Collins Foods Limited (ASX:CKF). Fran is recognised by internal and external stakeholders as an approachable, valued business partner sharing know-how and best practice in corporate governance. We explore with Fran her prior role as an ASX listing adviser, her current role as company secretary of Collins Foods; virtual board meetings and Collins Foods first hybrid AGM, KFC, Taco Bell and Sizzler franchises and best practice governance. "We had a hybrid AGM. For some specific reasons we chose to go hybrid as opposed to completely virtual. And it was very successful. It was the first hybrid AGM with any virtual component for the company. And so that in itself was exciting. There are many... I think anyone who says that it's easier doing a virtual event, never had to hold a virtual event. There are so many more factors that one needs to think of but really, if you're supported by the right kind of business partners who are invested in your success as well, then you will come out successful at the other end, which we did. We had very positive feedback from our investors, who were grateful that they could join us online, despite the COVID environment that we live in. And it provided a very transparent way of questions being asked and answered. And as much as possible, we tried to keep it like it was the same format as though we were having it in person." "And so with Collins Foods, I don't like to use the word by happenstance but two weeks before the lockdown here in Queensland, we had actually had a scenario where we had done some scenario training to test and practice our crisis management manual. And a week later after that, we actually had ... We had a case where we put that plan through its real paces. And so, we'd already had a practice run and then we were able to redeploy it and then fine tune it again. And then from there, we fine-tuned it again. So, it's been very interesting in terms of having that plan in place and knowing that we'd done those simulations and just how close the actual event was to what we had planned." - Fran Finucan Summary of episode · Collins Foods Limited franchisee of KFC and Taco Bell · Sizzler to close in Australia but continues to operate very strongly in Thailand and Japan · Business Continuity Plan (BCP) · Modern Slavery Reporting · Risk Register · Executive Remuneration · Hybrid and Virtual AGM · Crisis Management · Scenario...