Governance structure
- Overall leadership of the Group.
- Oversees and embeds sound principles of corporate governance.
- Ensures appropriate policies, procedures and controls are in place to support effective risk management and performance against agreed financial and operational metrics.
- Sets strategy, purpose, values and culture.
- Approves major contractual commitments.
- Approves business plan and budget.
- Sets and oversees environment and climate strategy and related targets.
The Board has delegated a number of its responsibilities to the Audit Committee, Nomination Committee and Remuneration Committee.
- Reviews annual and interim financial statements.
- Reviews accounting policies, financial reporting and regulatory compliance.
- Reviews internal control and risk management systems.
- Monitors processes for internal audit, risk management and external audit.
- Monitors independence of external auditor.
- Oversees relationship with external auditor.
- Identifies and nominates appointments to the Board.
- Reviews Non-Executive Directors’ time commitments.
- Oversees succession planning.
- Reviews size and composition of the Board.
- Promotes diversity.
- Undertakes annual performance evaluation of the Board, its Committees and individual Directors.
- Sets Remuneration Policy.
- Determines Executive Director and senior management remuneration.
- Approves annual bonus plan and Long-Term Incentive Plan targets.
- Reviews workforce remuneration policies and practices.
- Ensures that provisions regarding disclosure of remuneration are fulfilled.
- Reports to the CEO, responsible for the day-to-day trading activities of the Group and implementing the strategy agreed by the Board.
- Monitors performance against financial and operational targets and manages risk.
Information about the Operations Board can be found on our leadership page.
