Group Executive Committee

The Executive Committee (Exco) is responsible for the day-to-day management of the business of the Group. Exco facilitates the effective control of all the Group’s operational activities, acting as a medium of communication and co-ordination between all the various business units, Group companies and the Board. Exco is responsible for making recommendations to the Board with regard to the Group’s policies and strategies and for monitoring their implementation in accordance with the Board’s directives. Exco plays a role in monitoring risks applicable to the Group and reporting on these, together with recommendations and reports about action to be taken, to the Board. This includes the annual insurance review and a formal risk analysis.

At year-end, Exco consisted of two executive directors, two prescribed officers and seven senior executives. Subsequent to the end of the year under review, a further appointment was made to Exco with the appointment of a new Chief Operating Officer responsible for the Tertiary division. Each of the Group’s three operating divisions have formal management structures (Mancos) which meet on a monthly basis, or as often as they deem appropriate, to ensure the maintenance of standards and best practice in respect of corporate governance and internal controls.