The board has established three committees each consisting entirely of non-executive directors each with responsibility for the review and oversight of activities within its terms of reference (see below).
Audit Committee
The Audit Committee is chaired by Douglas Paterson and its other members are Ray Greenshields and Bruce Carnegie-Brown. The Committee normally meets not less than four times a year and meets external auditors at least twice a year. The Chairman of the Committee, as a senior partner in the banking and capital markets division of PricewaterhouseCoopers until 2004 and as a non-executive director of Goldman Sachs International Bank, has the appropriate level of recent and relevant financial experience as required by the Combined Code.
Remuneration Committee
The Remuneration Committee is chaired by Bruce Carnegie-Brown and its other members are Ray Greenshields and Douglas Paterson. The Committee normally meets no less than three times a year.
Nomination and Governance Committee
The Nomination and Governance Committee is chaired by Strone Macpherson and its other members are Bruce Carnegie-Brown, Ray Greenshields and Douglas Paterson. The Committee normally meets no less than twice a year.
