(1) TCorp is authorised under sn 4(10) of the Treasury Corporation Act (TCorp Act)  to employ staff. The TCorp Act also states that TCorp is not subject to the employment provisions contained in the Government Sector Employment Act (2013). Under the TCorp Act, the Treasurer, on the recommendation of the TCorp Board, may appoint a person as the Chief Executive of TCorp.

In accordance with the provisions of the TCorp Act, an executive search firm, Spencer Stuart, was engaged in 2015 to assist with the recruitment of a suitably qualified person for the role of Chief Executive of TCorp. Spencer Stuart presented a long list to TCorp from which the Board chose a shortlist of four external and three internal candidates for interview. A series of interviews and reference checking were conducted prior to Mr David Deverall being appointed effective 8 February 2016.

Pursuant to the Notice of Appointment for a Further Term provisions contained in his contract of employment, Mr Deverall was reappointed on 4 May 2020 until 29 March 2024.

(a) No

(i) n/a

(ii) n/a

(2) The Chief Executive’s remuneration is comprised of fixed remuneration of $780,000, and a performance payment of up to 60% of fixed remuneration ($291,900 for FY20 less a deferral of 25% under TCorp’s executive deferral mechanism)

(a) The TCorp Act provides for the Chief Executive to be paid such remuneration as the Board may, with the concurrence of the Treasurer, determine and the Treasurer has concurred with the Board’s decision in respect of Mr Deverall’s remuneration.

Note: The Board has recently reviewed Mr Deverall’ s remuneration for FY22 and the recommendation will be submitted to the Treasurer for his concurrence once the TCorp FY21 annual accounts have been approved (as required under the contract of employment).