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Division of Responsibilities
The role of the Board and its Committees
The Board Chair: Lena Wilson CBE Comprises: 2 Executive Directors and 4 Non-Executive Directors Responsibilities: / Directs and controls the business / Overall long-term success / Sets and implements strategy / Establishes the culture and values of the business / Promotes wider stakeholder relationships
Board Committees
Audit and Risk Chair:
Remuneration Chair: Maria Bentley Comprises: 4 Non-Executive Directors Responsibilities: / Determines remuneration policy / Sets remuneration of Executive Directors / Reviews remuneration of whole workforce / Approves bonus and LTIP awards
Property Valuation Chair: Richard Jones Comprises: 4 Non-Executive Directors Responsibilities: / Oversees the independent valuation process / Recommends the appointment and remuneration of the valuer / Ensures compliance with applicable standards
Nomination Chair: Lena Wilson CBE Comprises: 4 Non-Executive Directors Responsibilities: / Recommends Board appointments / Considers succession planning / Oversees Board evaluation recommendations / Considers Board composition and diversity
Mark Batten Comprises: 3 Non-Executive Directors Responsibilities: / Oversees financial reporting / Monitors risk management / Reviews system of internal controls / Agrees internal audit plan and reviews reports / Evaluates external auditor
Management Committees
Executive Committee Chair: Michael Morris Comprises: 2 Executive Directors and 1 senior executive Responsibilities:
/ Implementation of strategy / Management of operations
/ Day-to-day management of the business / Employee remuneration and development
Transaction and Finance Chair: Michael Morris Comprises: 2 Executive Directors and senior management Responsibilities: / Reviews and recommends portfolio transactions / Monitors portfolio costs / Reviews compliance with lending covenants
Responsibility Chair: Saira Johnston Comprises: 1 Executive Director and senior management Responsibilities: / Determines Sustainability Policy and strategy / Monitors compliance with relevant standards and legislation / Oversees Health and Safety Committee and Climate Action Working Group
/ Approves sustainability reporting / Monitors employee wellbeing
Picton Property Income Limited / Annual Report 2024 94
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