The Audit Committee is responsible for ensuring the financial performance of the Company is properly reported on and monitored, including reviews of the annual and interim accounts, results announcements, internal control systems and procedures and accounting policies. It is also responsible for keeping the categorisation, monitoring and overall effectiveness of the Company’s risk assessment and internal control processes under review. The Audit Committee should meet not less than two times a year.
The Remuneration Committee has responsibility for determining, within agreed terms of reference, the Group’s policy on the remuneration of senior executives and specific remuneration packages for the Executive Director and the Non-Executive Chairman. The remuneration of Non-Executive Directors is a matter for the Board. No Director may be involved in any discussions as to their own remuneration. It is expected to meet at least once a year.
The Nomination Committee is responsible for reviewing, within the agreed terms of reference, the structure, size and composition of the Board, undertaking succession planning, leading the process for new Board appointments and making recommendations to the Board on all new appointments and re-appointments of existing Directors. The Nomination Committee is expected to meet only as required.
The Sustainability Committee is responsible for developing and reviewing the Group’s framework, policies and guidelines on safety, health and environmental management, monitoring key indicators on accidents and incidents within the Group’s operations and considering developments in relevant safety, health and environmental practices and regulations. It is expected to meet at least once a year.
The Company’s Board Committees are constituted as follows:
|Audit Committee||Atul Bali||Alexander Lowrie
|Remuneration Committee||Alexander Lowrie||Adonis Pouroulis
|Nomination Committee||Adonis Pouroulis||J. Peter Pham
|Sustainability Committee||Shawn McCormick||George Bennett