The Group operates in a number of countries and accordingly has a strong governance framework within which the component parts of the business operate.
Responsibilities across the Governance framework
| The Board Responsible for the overall management of our organisation and our business |
The Board is collectively responsible for the success of the Company. | ||
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| The Board provides entrepreneurial leadership of the Group within a framework of prudent and effective controls which enable risk to be assessed and managed. It sets the Group's strategic aims, ensures that necessary financial and human resources are in place for the Group to meet its objectives sets the Group's values and standards and ensures that its obligations to its shareholders and others are understood and met. | |||
| Board Committees Specific review and oversight committees |
The Board has three committees each dealing with a specific aspect of governance. | ||
| Audit and Risk Committee The Audit and Risk Committee oversees the Group's financial reporting and internal controls and provides the link between the Board and the external and internal auditors. |
Nominations Committee The Nominations Committee's purpose is to consider future appointments to the Board and the succession policy for key management positions. |
Remuneration Committee The Remuneration Committee has responsibility for setting the framework for the remuneration of the Chairman, executive directors and other senior executives in the Group and the remuneration packages of those individuals. |
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| Executive management Everyday management of our business and operations, and responsibility for monitoring detailed performance of all aspects of our business |
The executive management operate under authority matrices agreed by the MCG Board. | ||
| Group executive management are responsible for the overall day-to-day management of the business. The two divisions each have their own leadership and management structures functioning within clearly established procedures and authority limits set by the Board. | |||