The principal standing committees appointed by the Board are as follows:
Audit Committee
The Audit Committee is chaired by Sam Wauchope and includes David Buckeridge as a member. The Committee provides a forum for reporting by the Group’s auditors and reviews the Group’s budget and its interim and final financial statements before their submission to the Board. The Committee also monitors the Company’s risk management and internal control practices and reports to the Board on these. The Committee advises the Board on the appointment of external auditors and on their remuneration, both for audit and non-audit work. It also discusses the nature and scope of the audit with the auditors.
Remuneration Committee
The Remuneration Committee is chaired by Jeremy Scudamore and includes David Buckeridge as a member. The Committee is responsible for determining the contract terms, remuneration and other benefits for executive directors and senior management. Its policy is to ensure that, through a process of regular review, the Group’s remuneration arrangements attract and incentivise the quality of executive management that the Company needs to achieve its goals and grow shareholder value, and are in line with best practice. The Committee may take independent specialist advice to assist it in its work. When required, the Committee is also involved in the selection process for executive directors and approves remuneration before a final offer is made.
The latest Remuneration Committee report is available at the following link: