Other Documents
The Board
The Board is comprised of five Directors, two of whom are Executive Directors and three of whom, including the Chair, are Non-Executive Directors, reflecting a blend of different experience and backgrounds.
Each of the Directors will stand for re-election on an annual basis. The UK Corporate Governance Code recommends that at least half the board of directors of a premium listed company, excluding the chair, should comprise non-executive directors whom the Board considers to be independent. Each of the Non-Executive Directors is considered to be independent.
The Board has delegated specific responsibilities to the committees referred to below all of which have written terms of reference and formally delegated duties.
Board Governance Document Download PDF 0.13 MB
Terms of Reference of the Senior Independent Director Download PDF 0.08 MB
Division of Responsibilities Between the Chair and the Chief Executive Officer Download PDF 0.07 MB
Nomination Committee
The Nomination Committee comprises Philip Bowcock as Chair together with Damian Sanders and Dianne Waker. It is responsible for reviewing the structure, size and composition of the Board, preparing a description of the role and capabilities required for a particular appointment and identifying and nominating candidates to fill Board positions as and when they arise.
Terms of Reference of the Nomination Committee Download PDF 0.19 MB
Audit and Risk Committee
The Audit and Risk Committee comprises Damian Sanders as Chair together with Philip Bowcock and Dianne Walker. It meets at least three times each year and at any other time when it is appropriate to consider and discuss audit and accounting related issues. The Audit and Risk Committee is responsible for determining the application of the financial reporting and internal control principles, including reviewing regularly the effectiveness of Victorian Plumbing’s financial reporting, internal control and risk-management procedures and the scope, quality and results of the external audit.
Terms of Reference of the Audit and Risk Committee Download
Remuneration Committee
The Remuneration Committee comprises Dianne Walker as Chair together with Philip Bowcock and Damian Sanders. It is responsible for reviewing the performance of the Executive Directors and set the scale and structure of their remuneration and the basis of their service agreements with due regards to the interests of Shareholders. In determining the remuneration of Executive Directors, the Remuneration Committee seeks to enable Victorian Plumbing to attract and retain executives of the highest calibre. The Remuneration Committee also makes recommendations to the Board concerning the allocation of awards under the Employee Share Plans and for the administration of the Employee Share Plans. No Director is permitted to participate in discussions or decisions concerning their own remuneration.
Terms of Reference of the Remuneration Committee Download PDF 0.09 MB