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Corporate governance

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Board committees

The principal committees established by the Directors are:

Remuneration Committee
The Remuneration Committee reviews the performance of the Executive Directors and any senior management and sets and reviews their remuneration and the terms of their service contracts, determines the payment of bonuses to Executive Directors and senior management and considers any bonus and option schemes which may be implemented by the Group.

This committee is comprised of the four Non‑executive Directors and is chaired by Michael Dodson. Executive Directors may also attend meetings as appropriate to the business in hand but are not members of the committee. None of the Executive Directors are present at meetings of the committee during consideration of their own remuneration.

Audit Committee
The committee meets at least twice a year and examines any matters relating to the financial affairs of the Group including the review of annual and interim results, internal control procedures and accounting practices. The Audit Committee meets with the auditors periodically and as necessary.

This committee is comprised of the four Non‑executive Directors and is chaired by David Marshall. The Finance Director and other Executive Directors may also attend meetings as appropriate to the business in hand but are not members of the committee.