Whilst a formal schedule of matters is reserved for the Board’s approval, the Board is supported by a number of Committees which have delegated responsibility for certain items of business. Further details on these Committees and their operation can be found below, including their full Terms of Reference.
Executive Directors are not members of these Board Committees, although they may be invited to attend Committee meetings.
The Chair of each Board Committee reports to subsequent meetings of the Board and the Board receives a copy of the minutes of all Committee meetings once approved (to the extent no conflict of interest exists).
The Audit Committee comprises: Dean Moore (Chair), Gillian Kent, Sue Farr and Helen Jones.
The Audit Committee’s principal responsibility is to support the Board in fulfilling its oversight responsibilities by reviewing and monitoring the independence and effectiveness of internal and external audit functions; the integrity of the Company’s financial and narrative statements; and the Company’s internal financial controls, internal controls and, as appropriate and in conjunction with the Risk Committee, risk management framework.Terms of Reference
The Risk Committee comprises: Gillian Kent (Chair), Dean Moore, Sue Farr and Helen Jones.
The Risk Committee is responsible for assisting the Board in its oversight of risk, including the ongoing monitoring, management and mitigation of principal and emerging risks, and advising the Board on the Group’s overall risk appetite, tolerance and strategy.Terms of Reference
The Remuneration Committee comprises: Helen Jones (Chair), Gillian Kent, Sue Farr and Dean Moore.
The Remuneration Committee’s principal responsibilities include setting the Remuneration Policy for all Executive Directors; ensuring that remuneration policies and practices support strategy and promote the long-term success of the Group; reviewing the targets for any performance-related pay schemes; and reviewing and having regard to payment practices and conditions across the organisation.Terms of Reference
The Nomination Committee comprises: Charles Allen, Lord Allen of Kensington (CBE) (Chair), Iain McDonald, Gillian Kent and Sue Farr.
The Nomination Committee’s principal responsibilities include regularly reviewing the structure, size and composition of the Board, including its balance of skills, knowledge, experience and diversity, to ensure membership remains appropriate and ensuring that appropriate procedures are in place for the nomination, selection and succession of Board members.Terms of Reference
Related Party Committee
The Related Party Committee comprises: Sue Farr (Chair), Gillian Kent, Dean Moore and Helen Jones.
The Related Party Committee’s principal responsibility is to oversee and approve the terms of any Related Party Transaction with the Propco Group (as such terms are defined in its Terms of Reference).Terms of Reference
The Sustainability Committee comprises: Iain McDonald (Chair), the Group Commercial Director and Chief Sustainability Officer.
The Sustainability Committee is responsible for reviewing and assuring that the Company has appropriate and effective strategies, policies and operational controls in place to conduct its business in a responsible manner (including performance against the Group’s Sustainability Strategy and in relation to environmental, social and governance (ESG) matters), whilst overseeing compliance with all applicable sustainability-related legal and regulatory requirements.Terms of Reference