The Board take seriously their responsibility for the proper management of the Company, achieving a high standard of corporate governance, and engaging with our shareholders and wider stakeholders

The following pages describe how this is carried on through the work of the Board and its Committees. 

Board composition

The board comprises nine Directors, the Non-Executive Chair, the Non-Executive Vice Chair, five Non-Executive Directors and two Executive Directors, with a mix of skills, capabilities, experience, and personal qualities. 

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Governance framework

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 Chair 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 are 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.

Read more about our QCA compliance

Board Committees

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

 

Responsible for reviewing the financial reporting and audit processes, monitoring, overseeing and assessing compliance policies, procedures, systems and controls, and assessing the external auditor’s performance and objectivity.

 

Remuneration

 

Responsible for determining and agreeing remuneration policies for the Board, Executive Directors, Senior leadership team, staff and workforce, and aligning remuneration, benefits and rewards to achieve the company’s goals, strategy and values.

Compliance

 

Responsible for reviewing and monitoring compliance controls, policies and systems to identify, assess, manage and report on compliance matters.

Health, Safety, Environment, Security & Risk

Responsible for monitoring and testing the Company’s safety, operational integrity and sustainability performance, and testing its internal control systems, monitoring risk management, and reviewing the Company’s sustainability reports and disclosures.