101
Governance
OCU Group | Annual report and financial statements 2025
Strategic report
Financial statements
Committees
The committees are now embedded and demonstrating a significant impact across the Group, with governance and controls now embedded into the Group, and cascading through the defined structure. Each committee is required, pursuant to their respective terms of reference, to meet a minimum of three times per year. Each committee has been delegated responsibility by the Board for the following matters:
Audit & Risk Committee
Nomination & Remuneration Committee
ESG Committee
Executive Committee
Nomination Regularly review the structure, size and composition of the Board and its committees, review the leadership and succession needs of the organisation, identify and nominate for approval candidates to fill Board vacancies and evaluate the Board’s diversity and balance of skills. Remuneration Set, develop and oversee remuneration packages for the Executive Directors, agree the bonus objectives for the Executive Directors and the bonus principles to be applied more broadly across the Group, and review workforce pay, benefits and conditions more generally.
The ESG Committee oversees the Group’s sustainability strategy and performance targets, monitors performance against the ESG targets set and oversees target reporting and engagement with key stakeholders. The ESG Taskforce was set up to make sure the sustainability initiatives (page 60) are delivered effectively in the business, working closely with the Executive Committee and the Senior Group Leadership Team.
The Executive Committee is comprised of the Executive Leadership Team (ELT) with each business unit and function across the Group represented at ELT level. The Board has delegated responsibility for delivery of the Group strategy and the day-to-day operational performance of the business to the Executive Directors, who work closely with the wider ELT to deliver the strategy.
Independent assessment and oversight of the Group’s financial reporting processes, accounting and financial policies, internal controls, internal audit and risk management and overseeing all matters associated with the appointment, remuneration, terms and performance of the external auditor. The Audit & Risk Committee delegates responsibility for risk management to the Group Risk Committee.
Committee members: • Tania Songini (Chair) • Thomas Cheung • David Taylor-Smith
Committee members: • Tania Songini (Chair)
• Thomas Cheung • Adrian O’Sullivan • Neil O’Hara
• Michael Hughes • David Snowball
Committee members: • Matthew Turner (Chair) • David Taylor-Smith
• Thomas Cheung • Michael Hughes
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