Board Committees

OBD has established an audit committee, a nomination committee and a remuneration committee with formally delegated duties and responsibilities.

The Audit Committee is chaired by Alison Kibble and its other member is David Williams.

The Nomination Committee is chaired by David Williams and its other members are Alison Kibble and Christian Hoyer Millar.

The Remuneration Committee is chaired by Alison Kibble and its other member is David Williams.

Committee Responsibilities

Audit Committee

The Audit Committee’s principal functions will include ensuring that the appropriate accounting systems and financial controls are in place, monitoring the integrity of the financial statements of the OBD, reviewing the effectiveness of the OBD’s accounting and internal control systems, reviewing reports from the OBD’s auditors relating to OBD’s accounting and internal controls, and reviewing the interim and annual results and reports to shareholders, in all cases having due regard to the interests of shareholders.

Remuneration Committee

The Remuneration Committee will be responsible for determining and agreeing with the Board the framework for the remuneration packages for each of the Executive Directors. The Remuneration Committee will consider all aspects of the Executive Directors remuneration, including pensions, bonus arrangements, benefits, incentive payments and share option awards, and the policy for, and scope of any termination payments. The remuneration of the Non-Executive Directors is a matter for the Board. The Remuneration Committee will generate an annual remuneration report to be approved by the members of the Company at the annual general meeting. No Director may be involved in discussions relating to their own remuneration.

Nomination Committee

The Nomination Committee will be responsible for reviewing the structure, size and composition of the Board based upon the skills, knowledge and experience required to ensure the Board operates effectively. The Nomination Committee will also identify and nominate suitable candidates to join the Board when vacancies arise, and make recommendations to the Board for the re-appointment of any Non-Executive Directors.

 

The terms of reference of each Committee can be downloaded below:

Audit Committee terms of reference

Remuneration Committee terms of reference

Nomination Committee terms of reference