Corporate Governance & Policies
The Board recognises its responsibility for the proper management of the Company and the importance of sound corporate governance commensurate with the size and nature of the Company and the interests of its shareholders.
The Board currently comprises seven Directors: the Non-Executive Chairman, the Non-Executive Vice Chairman, three Non-Executive Directors and the two Executive Directors (the CEO and CFO). The Directors bring a wide range of skills, experience and diversity to the Board to lead and support the executives in the development and execution of the Group’s strategy.
An in-depth review of the Directors’ skills, capabilities and experience they bring, which informs the review of the Board’s effectiveness and contributes to discussions on long‑term succession planning is done annually. The review demonstrates that the Board as a whole has the necessary mix of experience, skills, personal qualities and capabilities, which include industry, strategic, operational, risk management, financial, legal, geopolitical and regulatory experience.
The Board has overall responsibility for the Company’s purpose, strategy, business model, performance, capital structure, approval of key contracts and major capital investment plans, the framework for risk management and internal controls, governance matters and engagement with shareholders and other key stakeholders. The Board remains committed to understanding the needs of our shareholders and the wider stakeholders and it always considers how the Board’s decisions impact them in the longer term. In accordance with the QCA Code, the Chairman is responsible for leading the Board and ensuring that it remains effective in fulfilling its role. He sets the Board’s agenda and ensures that there is appropriate focus on strategic issues and the monitoring of performance. The Company’s performance and development planning is considered by the Directors in the context of the Company’s overall strategy and goals, with the Company’s risk and governance frameworks and taking into account their impact on stakeholders in the longer term.
The Board delegates certain responsibilities to its Committees, so that it can operate efficiently and give an appropriate level of attention and consideration to relevant matters.
Audit and Risk
Responsible for reviewing the financial reporting process, the system of internal controls and management of risk, the audit process and the procedures for monitoring compliance.
Remuneration and Nomination
Responsible for determining and reviewing the remuneration, terms and conditions of service of Executive Directors and senior employees and reviewing and approving grants of shares or options, from time to time.
Responsible for reviewing and monitoring compliance controls, policies and systems to identify, assess, manage and report on compliance matters.
Responsible for overseeing the framework of policies, procedures, systems and controls in place in relation to the health, safety, environmental, operational integrity, and security risks arising from the operations of the Group.
Committees established by the Board to ensure strong corporate governanceRead more
QCA Corporate Governance Code
Our Statement of Compliance with the QCA Corporate Governance CodeRead more
We take a proactive, robust approach to risk management, with the aim of protecting …Read more