As a key next step in the ADA’s ongoing program of governance reform, Peter Day will join the ADA’s Federal Council as its first independent non-dentist director, bringing considerable experience in corporate oversight, finance and strategy to the body. This appointment is a historically significant one which reflects the appetite of the ADA to move towards best practice governance.
Having held governance and management positions in mining, manufacturing, food, and financial and regulatory services industries across Australia and internationally, Mr. Day is currently a non-executive Chair of a listed mining company and is on the board of major plaintiff law firm and a health charity. His career has included board positions on significant ASX listed companies such as Rio Tinto, Centro and Ansell Limited, deputy commissioner of ASIC, the regulator for companies in Australia and a position on the Takeovers Panel, the independent body that considers takeover disputes in Australian public companies.
Federal Council is effectively the ADA’s Board of Directors and while it’s unusually large, good practice is to have a skills and diversity approach to board composition. The decision to appoint the first non-dentist appointment to the national body of the ADA, follows a vote by members at the November 2022 Annual General Meeting to adopt changes to ADA’s Constitution which would allow the appointment of an independent director to Federal Council.
The decision to consider a skills-based director, despite the size of the ADA’s governing group, came after Federal Council acknowledged the strong link between diverse boards and organisational performance.
ADA President Dr Stephen Liew summed it up in saying “the ADA is governed by a talented group of dentists which gives us great strength but which also presents a risk. We need different perspectives if we’re going to make great decisions in the Board room”.
The decision to go with a very experienced company director in the first instance is about where the ADA is in its development as a board and what skills its council needs right now. The ADA is in the middle of a major governance review and Mr Day’s experience will undoubtedly help the Association to navigate any challenges which will inevitably emerge.
Mr. Day will contribute his extensive knowledge of corporate governance in providing strategic guidance to the Board, it’s rare to have a director with his depth of knowledge and experience joining an association board. His perspective will bolster the governance reform already underway in the Association which is seeking to deliver even more value to its membership in coming years through measures such as this appointment.
The next meeting of Federal Council will take place in August.
