Committees of the Board
The Company has constituted four non-Board sub committees being the Nomination Committee, the Remuneration Committee, the Audit Committee, and the Executive Committee.
Nomination CommitteeTo top
The Nomination Committee currently consists of Anthony Golding (Chairman), Frank Moxon and Dr Stephen Staley. The main task of the Nomination Committee is to propose candidates for election to the Board of Directors. The Nomination Committee must take into consideration the various rules on independence of the Board in relation to the Company, its senior management and major shareholders, in accordance with the requirements of the UK Combined Code on Corporate Governance.
Remuneration CommitteeTo top
The Remuneration Committee currently consists of Dr Stephen Staley (Chairman), Frank Moxon, and Anthony Golding. The Remuneration Committee is responsible for establishing a formal and transparent procedure for developing policy on executive remuneration and for setting the remuneration package of the individual directors. This includes agreeing with the Board the framework for remuneration of the chief executive, all other executive directors, the chairman (if executive), the company secretary and such other members of the executive management of the company that it is designated to consider. It is also responsible for determining the total individual remuneration package of each director, including, where appropriate, bonuses, incentive payments and share options. The committee takes external advice, as appropriate, on remuneration issues and takes cognizance of major surveys covering all aspects of pay and benefits of directors and senior executives in many companies.
Audit CommitteeTo top
The Audit Committee receives and reviews reports from the management and the external auditors of the Group relating to the annual and interim accounts and the accounting and internal control systems of the Company. The Audit Committee has unrestricted access to the Group’s external auditors. The committee currently consists of Frank Moxon (Chairman), Dr Stephen Staley and Anthony Golding..
Executive CommitteeTo top
The Executive Committee consists of Michael Blaha, John Craven and Michael Nolan and this committee is charged with the day to day operations of the Company.
All sub-committees report to the Board of Directors.
