Committees & terms of reference
Here at Trifast we believe in effective, entrepreneurial and prudent management, using good corporate governance practice to deliver long term success for Trifast and all its stakeholders
The plc Board is appointed to act on behalf of the shareholders to run the day-to-day affairs of the business
The plc Board is made up of Executive Directors, who work within Trifast; and Independent Non-Executive Directors, whose roles are to provide balance and to ensure the Board as a whole functions effectively.
Where our Executive Directors have an in-depth knowledge of Trifast, our Non-Executive Directors provide a wider perspective of the world at large.
The Group also works with City specialists to ensure all levels of shareholders receive Trifast information.
How the plc Board is structured and works
The collective members of the plc Board plan and make decisions for Trifast, setting the strategic direction, making sure that all risks are managed effectively. Separate Board committees also exist, mostly made up of Non-Executive Directors, to focus on decision making areas that require an independent opinion.
Nomination Committee
Members
Clive Watson
Role
The Committee is responsible for leading the process, and making recommendations to the Board, for Board appointments, ensuring there is a formal, rigorous and transparent procedure. The composition of the Board is regularly reviewed and refreshed, taking into account the length of service of the Board as a whole, so that it is effective and able to operate in the best interests of shareholders. The Committee ensure there are succession plans in place for both Board and senior management roles.
Audit & Risk Committee
Members
Role
The role of the Committee is to assist the Board in fulfilling its oversight responsibilities by reviewing and monitoring the integrity of the financial and narrative statements and other financial information provided to shareholders. The Committee’s role is central in monitoring the effectiveness of the Company’s system of internal controls and risk management as well as the external audit process and auditors and the processes for compliance with laws, regulations, and ethical codes of practice.
Remuneration Committee
Members
Clive Watson
Role
To set the remuneration of the Executive Directors that attracts talented individuals and is fair in rewarding progress against the Company’s strategic plan and performance.
Responsible Business Committee
Members
Role
The role of the Responsible Business Committee is to ensure the understanding and effective implementation of the sustainability strategy and how it relates to the broader corporate purpose and vision as well as forming part of the Group’s culture. The Committee also works and liaises with other Board Committees to integrate sustainability in everything we do.
View more on the Responsible Business Committee terms of reference here