Corporate governance

The Company places a great deal of importance on high standards of corporate governance and has applied substantially all the detailed provisions laid down in the Combined Code on Corporate Governance.

The Company has appointed Graham Mackay as the Senior Independent Non-Executive Director.

The current Board comprises nine directors, seven of whom are non-executive. Two of the non-executive directors are not considered to be independent for all purposes: Adrian Bellamy, as Chairman of the Board and because he had served as a Director for more than nine years, and Peter Harf, Deputy Chairman, because of the shareholding he represents and because he has served as a Director for more than nine years. The Board structure adopted by the Company is similar to that of its key international competitor companies, most of whom are US based.

The Company has established three committees of the Board: an Audit, a Remuneration and a Nomination Committee.

If you would like to view the terms of reference for these committees, please click on the icons or headings below to download the PDFs;

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To view the terms of reference for these committees, please click on the headings below.