The GRDC Board is established under the Primary Industries Research and Development Act 1989 (PIRD Act) and operates in accordance with the requirements set out in the PIRD Act and the Public Governance Performance and Accountability Act 2013. The GRDC Board is accountable to the Australian Parliament, through the Minister for Agriculture and Water Resources, and to Australia’s grain growers through the organisations appointed under the PIRD Act as the grains industry’s representative organisations. The GRDC Board has between seven and nine directors.
The Chairman is selected and appointed by the Minister.
The Managing Director is appointed by the GRDC Board.
The Board Charter sets out the responsibilities and processes of the GRDC Board, including the code of conduct for directors.
The GRDC Board periodically commissions an external review of its performance. A review was completed in March 2017.
The Board has three committees:
Finance, Risk and Audit Committee — assists the Board in fulfilling its corporate governance responsibilities and reviews the GRDC's:
- financial reporting process
- internal control system
- risk management strategy and processes
- internal and external audits
- process for monitoring compliance with laws and regulations and the Board’s code of conduct
- financial statements.
Remuneration Committee – reviews and makes recommendations to the Board on matters relating to:
- the recruitment, remuneration, development, performance and retention policies of GRDC including strategic workforce planning and organisational development
- a performance culture
- the selection, remuneration and performance of the Managing Director
- the development and performance of the Board.
Commercial Committee — reviews, evaluates and makes recommendations to the Board and management on matters relating to:
- the strategic oversight of the GRDC in regard to its planning processes related to the integration of research, development, commercialisation and adoption processes
- the commercial and R&D interaction between the GRDC and the private sector, including R&D partnerships, commercial structures and other joint ventures
- the development of draft policies regarding ownership of project intellectual property, risk-sharing and licensing conditions with research and commercialisation partners to assist with the adoption of the results of R&D
- corporate governance and risk management in the area of commercialisation and adoption of the results of R&D, including oversight of the GRDC’s role and investments in companies that undertake such commercialisation and adoption
- intellectual property management, protection and enforcement as necessary for the commercialisation of the results of R&D.