Corporate Governance Structure

Board and Committee structure

The Board has delegated a number of its responsibilities to Board Committees, which utilise the expertise and experience of their members to examine subjects in detail and make recommendations to the Board where required. This delegation allows the Board to focus more of its time on strategic and other broader matters. The chairs of the Board Committees provide the Board with a verbal update on matters discussed at each meeting, and Board Committee minutes are made available to the whole Board through a secure online system.

Responsibility for the day-to-day management of the Group is delegated to the CEO, who has established a structure of two executive committees, supported by a number of sub-committees, which oversee the execution of the strategy agreed by the Board, and performance and risk issues. The executive committees and their sub-committees each have their own terms of reference.