Committees

The board operates Audit, Financial Risk, Remuneration and Nominations Committees.

Audit Committee
The Audit Committee reviews reports from the company's management and external auditors relating to the annual and interim accounts and the accounting and internal control systems within the Group. The Committee has direct and unrestricted access to the external auditors.

Committee Members: Richard Davey (Chair), Malcolm McCaig

Financial Risk Committee
The Risk Committee meets regularly to discuss and manage the financial risk of the Group including, amongst other financial risks, liquidity levels, overall limits and financial parameters used in its hedging policy.

Committee Members: Richard Davey, Malcolm McCaig (Chair), Frank Chapman, Simon Denham, Siobhan Moynihan, Rachel Woodford

Remuneration Committee
The Remuneration Committee's principal duties are to determine the total individual remuneration packages for executive directors and to review the scale and structure of the remuneration and service contracts for senior management. The Committee also administers the company's share option schemes.

Committee Members: Richard Davey (Chair), Malcolm McCaig

Nominations Committee
The nominations committee meets on an ad hoc basis to review and make recommendations for appointment to the Board.

Committee Members: Richard Davey (Chair), Frank Chapman, Malcolm McCaig