There are five Board Committees.
The Quality and Environment Committee is chaired by Graham Edwards (December 2017). The Committee meets on a monthly basis and advises the Board on any issue relating to operational policy and practice in relation to compliance with drinking water regulations and environmental laws and regulations. The Committee also reviews the performance of Welsh Water against agreed key performance indicators, with particular regard to matters of public health, health and safety and environmental impact. Each year, the Quality and Environment Committee publishes a report of its work in the Annual Report.
The Audit Committee is chaired by John Warren. Its role is to:
- Review and advise the Board on the Group’s interim and annual financial statements, its accounting policies and on the control of its financial and business risks
- review the nature and scope of the work to be performed by the external auditors and outsourced internal audit function, the results of their audit work and of the response of management
- review and advise the Board on the effectiveness of the company's internal control environment; and
- make recommendations on the appointment and remuneration of external auditors and to monitor their performance; approve and monitor the policy for non-audit services provided to the Group by the external auditors to ensure that the independence of the auditors is not compromised.
The Remuneration Committee is chaired by Anna Walker and is responsible for determining the broad policy and framework for the remuneration of Executive Directors and senior managers. It also determines the nature and scale of incentive performance arrangements that reward individuals across the business for their contribution to the success of the business.
The Nominations Committee is chaired by Alastair Lyons. The Committee’s role is to review the size, structure and composition of the Board. It leads the process for making appointments to the Board, ensures that there is a rigorous and transparent process for the appointment of new Directors and ensures that plans are in place for orderly successions to the Board and to other senior executive management positions.
The Finance Committee is chaired by John Warren and was established with authority to approve financial decisions quickly on an ad hoc basis between meetings. It is our intention to use this Committee rarely as we generally plan sufficiently far in advance to deal with such issues at Board Meetings.
Further details on the composition and work of each of the Committees can be found in Glas Cymru’s current Annual Report and Accounts.