Board committees
There are three Board committees: nomination, remuneration and audit.
Nomination Committee
The Company’s Nomination Committee is chaired by Richard Grainger, Chairman of Safestore. Adrian Martin Senior Independent Director, Alan Lewis and Peter Gowers are the other members. The Nomination Committee assists the Board in discharging its responsibilities relating to the composition of the Board. It is also responsible for periodically reviewing the Board’s structure and identifying potential candidates to be appointed as Directors. The committee is further responsible for evaluating the balance of skills, knowledge and experience on the Board, the size, structure and composition of the Boards, retirements and appointments of the additional and replacement directors and will make appropriate recommendations to the Board on such matters.
The Nomination Committee will meet formally at least twice a year and otherwise as required.
Remuneration Committee
Keith Edelman, Non-Executive Director chairs the Remuneration Committee. Richard Grainger and Alan Lewis are members of the Committee.
The Remuneration Committee assists the Board in determining its responsibilities in relation to remuneration, including making recommendations to the Board on the Company’s policy on executive remuneration, determining the individual remuneration and benefit package of each of the Executive Directors and recommending and monitoring the remuneration of senior management below Board level.
The Remuneration Committee will meet formally at least twice a year and otherwise as required.
Audit Committee
The membership of the Audit Committee comprises two independent Non-Executive Directors: Keith Edelman and Adrian Martin who is also the Chairman of the Committee.
The Audit Committee assists the Board in discharging its responsibilities with regard to the financial reporting, external and internal audits and controls, including reviewing the Company’s annual financial statements, advising on the appointment of external auditors and reviewing the effectiveness of the Company’s internal audit activities, internal controls and risk management systems. The final responsibility of reviewing and approving the annual report and accounts and half yearly reports remains with the Board.
The Audit Committee will meet formally at least twice a year and otherwise as required.
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