Board Committees
The Board is responsible for overseeing the management of the business and for ensuring high standards of corporate governance are maintained throughout the Group. This is achieved through a combination of its own decision making and by delegating day to day responsibility for certain matters to the Board Committees.
Committees of the board are the Audit Committee, the Remuneration Committee and the Nomination Committee.
The Audit Committee comprises the Non-Executive Directors, excluding the Non-Executive Chairman, and meets at least three times each year. It is responsible for the overall risk framework, internal control environment and financial reporting of the Company and the Group. Its Terms of Reference, which can only be amended by the Board, can be accessed here.
The Remuneration Committee comprises the Non-Executive Directors, including the Non-Executive Chairman, and meets at least three times each year and at other times as necessary. Its primary responsibility is to review salary levels, discretionary variable remuneration and the terms and conditions of service of the Executive Directors. Its Terms of Reference, which can only be amended by the Board, can be accessed here.
The Nomination Committee comprises the Non-Executive Directors and is chaired by the Non-Executive Chairman of the Company. The Nomination Committee meets at least once each year, and at other times as necessary, and is responsible for identifying and nominating candidates, for making recommendations on Board composition and for considering succession planning requirements. Its Terms of Reference, which can only be amended by the Board, can be accessed here.