Governance structure

  • Overall leadership of the Group
  • Oversight of systems of internal control, risk management and corporate governance
  • Sets strategy, purpose, values and culture
  • Approves major contracts
  • Approves business plan and budget

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 and financial reporting and regulatory compliance
  • Reviews the Company’s internal control system
  • Monitors the Company’s processes for internal audit, risk management and external audit
  • Monitors independence of external and internal auditors
  • Oversees relationship with external auditor

Terms of Reference for Audit Committee

  • Identifies and nominates appointments to the Board
  • Reviews NED time commitments
  • Oversees succession planning
  • Reviews size and composition of the Board
  • Promotes diversity
  • Responsible for carrying out an annual performance evaluation of the Board, its Committees and individual Directors

Terms of Reference for Nomination Committee

  • 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

Terms of Reference for Remuneration Committee

  • Reports to the CEO
  • Responsible for the day-to-day trading activities of the Group
  • Implements the strategy agreed by the Board
  • Monitors performance against financial and operational targets
  • Manages risk

Details of the Operations Board can be found on our leadership page.