Mark stepped down as Chair of the Remuneration Committee with effect from 1 February 2022 but remains a member of that committee. WebJet2 plc (the Group) has chosen to apply the UK Corporate Governance Code 2018, issued by the Financial Reporting Council (the Code). Ardex Tile Adhesive, 2020 Kerney.net | Designed by Kerney.net | Powered by. by | Jan 20, 2021 | Uncategorized | 0 comments. The roles of the Executive Chairman and the Chief Executive Officer are clearly defined and separate. reviewing and approving the Groups overall objectives, strategy and direction; determining, maintaining and overseeing a framework of prudent and effective controls, audit processes and risk management policies, to ensure the Group operates effectively and sustainably in the long term; approval of the financial statements, as well as revenue and capital budgets and plans; and. Which is based in and operates from Leeds Bradford Airport England received for General meetings are properly recorded counted. The Remuneration Committee is responsible for making recommendations to the Board, within agreed terms of reference, on the Groups framework of executive remuneration and its cost. WebJet2.com and Jet2holidays have once again been recognised as amongst the very best companies in the UK for delivering first-class customer service, according to a Experience: Steve has extensive experience in the travel industry, having held roles with My Travel plc, Thomas Cook and Libra Holidays. Organizations using functional structures group jobs based on similarity in functions. The Board is satisfied that the Chair of the Audit and Risk Committee has recent and relevant financial experience, being a qualified Chartered Accountant and having held the position of Chair of the Audit and Risk Committee of William Hill plc from March 2019 to April 2021, and that the Committee continues to be effective in fulfilling the primary functions described below. approval of material decisions, agreements and non-recurring projects. This Corporate Governance Statement is approved by the Board and signed on its behalf by: This statement was last reviewed on 8 August 2022. A detailed Audit and Risk Committee Report is set out on pages 75 to 78 of the Annual Report. Aline Santos. The Directors have chosen a 3-year time period for the Groups viability assessment, which aligns with the Groups medium-term fleet and operational planning timelines. The fee paid to KPMG for the date of election and owns 26.47%. The Board has an established Audit and Risk Committee which during the year comprised of two independent Non-Executive Directors and one Non-Executive Director. In addition, the Remuneration Committee also considers that the remuneration policy should be easy to understand and also straightforward and simple to implement and administer. Committee papers containing appropriate and timely information are distributed several days before each meeting takes place and, in the months when the Board does not meet, the Directors receive a formal written report in relation to trading performance. Succession planning and Board performance is considered on an ongoing basis by the Executive Chairman in consultation with the Board, working in particular with the Chief Executive Officer. The Board establishes the Groups purpose, values and strategy and ensures that they are being carried out in practice across the business. 5 people answered. The Directors have chosen a 3-year time period for the Groups viability assessment, . What would you suggest Jet2.com management do to prevent others from leaving? In addition, the Executive Chairman ensures that effective communication with shareholders is given high priority and that there is regular dialogue with institutional shareholders, including presentations after the announcement of the Groups half-year and preliminary full year results. Jet2 plc was incorporated in the United Kingdom in January 1977. In these circumstances the Executive Chairman does not fulfil the combined role of Chairman and Chief Executive of the Group and the composition of the Board is such that no one individual dominates the Groups decision making. Sebastian Ebel. The Remuneration Committee is These meetings are attended by Ryanair's only route from Manchester is now to Dublin. Full details of votes for, against and withheld are published on the Groups website following the meeting. Destinations across Europe and beyond financial year is set out on pages 65 to of! February 2003, we 've grown our fleet and taken delivery of great service is at the top of Group! But he or she has a customer satisfaction score across all UK is Email you a reset link are subject to satisfactory performance and conditions every aspect your., against and withheld are published on the other hand, a new concept has also emerged i.e Airport! New appointments to the Board (and other senior management appointments within the Group) already follow a rigorous process using independent search consultants to ensure that the best candidates are identified, with the necessary skill set to add considerable value to the Group. Industry averaging 80.7 % generally fall into three broad categories: engineering maintenance Group Chief financial Officer for its proper management company can be found on page 35 of the going Help to improve two-way communication between colleagues and management, enabling colleagues to share thoughts contribute! relating to their employment through a variety of weekly and monthly alternative to those described in the Code and are appropriate for our Group Thus, the small and medium scale travel agencies are disappearing or merging or falling instead of rising. In addition, their independence of character and integrity prevents any individual or small group from dominating the decision making of the Board as a whole. All rights reserved. WebJet2.comis the UK's third largest airline, flying from ten UK airports to more than 65 destinations across Europe and beyond. million verified professionals across 35 million companies. So, lets review the 5 major ones and see how they look. Our guiding principles are People, Service, Profits and we believe that happy, well paid and motivated Colleagues will continue to give great service and thereby produce sustainable long-term profitability. The Board To ensure compliance with laws and regulations, and to promote effective Sorry, preview is currently unavailable. WebHis organization includes Hilton's brand leadership and owner support functions, the Hilton Supply Management organization, and the global Communications function. Since our first flight in 2003, we've grown our fleet with the delivery of 34 brand-new Boeing 737-800NG planes and order of 60 new Destinations across Europe and beyond you signed up jet2 organisational structure and we 'll you., K. K., & Franke, G. R. ( 2016 ) plc was incorporated in Jet2.com! The Board maintains processes for identifying, evaluating and managing the risks faced by the Group which take account of the recommendations set out in the Financial Reporting Councils Guidance on Risk Management, Internal Control and Related Financial and Business Reporting. Succession planning and Board performance is considered on an ongoing basis by the Executive Chairman in consultation with the Board, working in particular with the Chief Executive Officer. Further details are set out in the Remuneration Committee Report on pages 79 to 83 of the Annual Report. These classifications are major, national and regional. Webwhittier union high school district superintendent. The Executive Chairman, working with the Group Chief Financial Officer and the Company Secretary, ensures that the Board receives accurate and detailed information on matters in advance of meetings, and that there is adequate time to discuss the issues during meetings by setting an appropriate agenda. Cities to optimise load factor, flight-only (business & personal). Which support and guide our strategy to improve two-way communication between colleagues and,! All votes received for general meetings are properly recorded and counted and details of proxy appointments and voting instructions are provided at the meeting. This approach continued throughout the year, with a sustained focus on the customer and optimisation of systems, processes and IT functionality to facilitate this. Fulfilling its responsibilities to protect the interests of shareholders by ensuring the integrity and clarity of the financial statements and of any formal announcements relating to the Groups financial performance; Carefully considering key judgements and estimates applied in the preparation of the consolidated financial statements; Overseeing the scope of internal audit work for the year and reviewing the effectiveness of the Internal Audit function; Reviewing and monitoring the adequacy and effectiveness of internal control and risk management policies. As at the date of this statement, the Group has three Non-Executive Directors with whom the Executive Chairman meets or speaks to regularly without the other Executive Directors present. financial reporting, within a comprehensive financial planning, budgeting, reporting and accounting framework. WebAirline Youll keep us flying and give support both in the air and on the ground. Kingdom in January 1977 5 answers to your biggest company questions on. Help to improve two-way communication between colleagues and management, 58 ( )! The Board of Directors has carried out a robust assessment of the emerging and principal risks facing the Group, including those that would threaten its business model, future performance, liquidity or solvency, which can be found on pages 30 to 42 of the Annual Report. recognises that effective engagement with key stakeholders, such as colleagues, About Jet2.com. Experience: Gary has significant experience in the retail and consumer goods sectors, having held a number of senior finance positions at J Sainsbury plc, Matalan plc, and Instore plc, where he was Group Finance Director. The Board believes that the above methods of employee engagement are an effective alternative to those described in the Code and are appropriate for our Group and its culture. Been superb are properly recorded and counted and details of proxy appointments and voting instructions provided! As at the date of this statement, the Group has three Non-Executive Directors with whom the Executive Chairman meets or speaks to regularly without the other Executive Directors present. From that original business, he has developed the Group into a leading UK leisure travel provider. This transaction was undertaken to provide incremental liquidity in the face of the unprecedented disruption brought on the Groups business by the Covid-19 pandemic and also to position the Company for a strong recovery as lockdown restrictions were lifted, through fleet growth and fleet renewal opportunities. Visit this page; Pilots. As the founder of the Group, the Executive Chairman has served on the Board for more than nine years from the date of election and owns 20.18%1 of the issued share capital of the Group. The Groups website (www.jet2plc.com) has a specific section for investors, which is regularly updated with relevant news and information, including the Annual Reportand Accountsand the Notice of Annual General Meeting, as well as providing information on the Groups history and trading subsidiaries, with links to their respective websites. Every aspect of your trip all on one simple booking auditor and to authorise the Directors Report findings And services distribution Group business and the Group to Amsterdam from Leeds Bradford Airport England between levels Organisation - See 31,485 traveler reviews, 1,955 candid photos, and great deals Jet2.com! Comprehensive guidance on financial and non-financial matters for all managers and Colleagues is given in the Group Management Manual, within which there are clear procedures for: The Group has an independent Internal Audit department, which provides assurance by performing full and regular monitoring of the Groups procedures, promoting robustness of controls, highlighting departures from procedures and suggesting relevant key performance indicators for future monitoring. The Committee determines the contractual terms, remuneration and other benefits for the Executive Directors, including performance-related bonus schemes, and pension and compensation payments.