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The following committees sit in accordance with the Combined Code of Corporate Governance:
Health, Safety and Environment Committee
- Keith Bush – Chairman
- Jon Murphy – Member
- Paul Lafferty – Member
- Iain Lanaghan – Member
- Nick Morgan – Member
- Campbell Airlie – Member
The Health, Safety and Environment Committee provides the necessary resources for the corporate HSE management system and oversees its implementation across all of the Company’s assets. The Company develops a corporate HSE plan at the beginning of the year which directs the HSE strategy and initiatives for the coming year. The plan is approved by the Committee and performance is tracked throughout the year and formally reported to the board on a quarterly basis.
Audit Committee
- Iain Lanaghan – Chairman
- Jon Murphy – Member
- Campbell Airlie – Member
The Audit Committee’s principle objectives are to monitor the integrity of the published financial information of the Company; monitor the Company’s internal control procedures and risk management system; make recommendations to the Board regarding the appointment, reappointment and removal of external auditors; and review whistle‐blowing arrangements and the Company’s procedures to prevent bribery and corruption.
Remuneration Committee
- Cambell Airlie – Chairman
- Iain Lanaghan – Member
- Jon Murphy – Member
The Remuneration Committee is responsible for the approval of executive salary; ensuring remuneration levels support the Company strategy and a sustainable business model while promoting capital discipline throughout the Company; and ensuring alignment of executive, senior management and shareholder interests.
The Company is not required to comply with the principles of good corporate governance and the recommendations of best practice as set out in the principles of the revised UK Corporate Governance Code (the “Code”) published in May 2010 by the Financial Reporting Council and revised in September 2012 . While the Company does not comply with the Code, in so far as is practicable and appropriate for an AIM quoted company of Cabot Energy’s size, the business seeks to follow the guidance set out in the Code.