Board Committees
The Board has devolved responsibility of certain matters to two committees, an Audit & Risk Committee and a Remuneration Committee.
Board Committees
The Board has devolved responsibility of certain matters to two committees, an Audit & Risk Committee and a Remuneration Committee.
AUDIT AND RISK COMMITTEE
The Board has established an Audit & Risk Committee with formally delegated duties and responsibilities, which is to comprise no fewer than two non-executive directors.
The Audit & Risk Committee will meet at least twice a year, and will be responsible for ensuring that the financial performance of the company is properly reported on and monitored, including reviews of the annual and interim accounts, results announcements, internal control systems and procedures and accounting policies.
In addition, the Committee is responsible for evaluating the business risks the company faces, reporting them to the Board, and providing guidance to the executive directors on management of these risks.
Carol Thompson (chair) and Duncan Penny are the current members of the Audit & Risk Committee.
REMUNERATION COMMITTEE
The Board has established a Remuneration Committee with formally delegated duties and responsibilities, to comprise no fewer than two non-executive directors.
The Remuneration Committee will meet at least twice a year, and be responsible for setting the remuneration policy for the executives of the company.
Francis Small (chair), Duncan Penny and Carol Thompson are the current members of the Remuneration Committee.
Nomination committee
It has not been deemed necessary to form a nomination committee, as the Board as a whole is responsible for determining from time to time whether it is appropriate to appoint new directors.
