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
- 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
- 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
- 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.
