Assignment help on Corporate Governance of BINGO

Introduction

Ethicality and transparency are most needed aspects of board of directors of any business which makes them corporate governance effective. Given the importance of ethical corporate governance, the underlying report is aimed at analyzing corporate governance outlook and orientation of board of BINGO. The research is done through annual report, content on website of company, sustainability report and media release of BINGO. Mainly, the stakeholder theory and legitimacy theories are applied to assess outlook, orientation and communication of board of company. The compliance of board’s communication and reporting is found with ethical branch of stakeholder’s theory, which shows that board of company is ethically orientated. Moreover, the outcomes provided evidence that legitimacy theory is followed in communication of company. 

Introduction and Background of Company

Bingo has started as small family retained skip bin business, based in Western Sydney, Australia. In 2005, it was purchased by Tony Tartak, who has developed it into more sophisticated waste management company, which is considered as provider of solution across entire waste management supply chain (Bingo Industries, 2019b). The key activities of Bingo include; collection, processing, recycling and disposal of waste, from both industrial and commercial settings. BINGO has initiated is journey with 4 trucks and 100 bins and now it possesses fleet of around 250 vehicles which are engaged in offering high quality services to around 18000 customer on yearly basis (Bingo Industries, 2019a). The core vision of BINGO is to foster establishment of waste free Australia, which follows goal of 100% diversion of waste from landfills. The company is engaged in advancing technologies through which it can enable diversion of maximum waste from landfills and can aid in creation of circular economy (Caputo, 2016). The strategic intent of company is aligned with international best practices of waste management and it holds significant placing in waste management industry. The focal industry of BINGO is facing substantial responsibility in terms of sustainability and environmental protection, as its faithful operations can enable the achievement of sustainable and environmentally responsible society. 

The journey of BINGO over the years shows that company has adopted different strategies of expansion, acquisition and growth with an aim of realizing its vision. The beginning of company dates back in 2005, where company has started as building and demolition skip business (Bingo Industries, 2019a). The company has served Australia through its skip business and has expanded in 2014. The expansion of company has transformed it into Commercial and Industrial Market, which has allows the company to increase its fleet to 65 trucks and it has also opened a recycling center.  Followed by this, BINGO has made reliance on an acquisition strategy in 2015 by purchasing Toro Waste Equipment (Bingo Industries, 2019d). Based on this acquisition, BINGO’s fleet expanded to 95 trucks and it has opened three more recycling centers. In 2016 company has indicated evidence of further growth, by expanding into Hunter Valley, with fleet of 123 trucks in Sydney and opening of three more recycling centers (Bingo Industries, 2019a). 2017 was the year of remarkable achievement for BINGO, as company has listed on Australian Stock Exchange and has launched in Victoria as well (Bingo Industries, 2019f). In the same years BINGO has also acquired NRG and Patons Lane to further support its growth. Finally, in 2018, BINGO has been listed in top 200 ASX. Therefore, company is growing significantly over the years and it is announcing new growth strategies and acquisitions to further strengthen its business. 

Summary of Corporate Governance at Bingo

The board of Governance of BINGO is formulated in compliance with principles of ASX Corporate Governance Council which lays clear guidelines of roles and responsibilities of board, its structure, ethicality and integrity of board and rights of shareholders. The board of BINGO is comprised of six members, of which 4 are independent and 2 are non-independents directors, indicating that ratio of independent directors is more in board of company (Bingo Industries, 2019a). The increased ratio of independent directors indicate that most of directors at BINGO have no monetary stakes in company except remuneration, which leads to minimization of agency issues and cost within company (Brunton, Eweje & Taskin, 2017). The non-executive director of company and chairman is independent, while its Chief Executive Officer (CEO) is non-independent.