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: – Direction and control of 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 – Board evaluation – Board composition and diversity
Mark Batten Comprises: 3 Non-Executive Directors Responsibilities: – Oversees financial reporting – Monitors risk management – Reviews system of internal controls – Evaluates external auditor
Management Committees
Executive Committee Chair: Michael Morris Comprises: 2 Executive Directors and 1 senior executive Responsibilities: – Implementation of strategy – Manages 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: Andrew Dewhirst 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 – Approves sustainability reporting – Employee wellbeing
Picton Property Income Limited Annual Report 2022
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