Corporate governance

The Board places great emphasis on sound corporate governance and intends to comply with the principles of good governance and Code of Best Practice (the Combined Code).

Remuneration Committee
The Remuneration Committee determines, amongst other matters, the broad policy for senior management remuneration and determines the remuneration of the executive directors.

To view the Remuneration Committee’s terms of reference Click here.

Audit Committee
The Audit Committee monitors the integrity of the financial statements of the Company and reviews the effectiveness of the group's internal controls and risk management systems. 

To view the Audit Committee’s terms of reference Click here.

Nominations Committee
The Nominations Committee regularly reviews the structure, size and composition of the Board and makes recommendations with regard to any changes. It gives consideration to succession planning for directors and other senior executives in the course of its work taking into account the challenges and opportunities facing the Company and what skills and expertise may be required in the future.

To view the Nominations Committee’s terms of reference Click here.

Environmental Committee
The Environmental Committee advises the Board on the adoption and implementation of appropriate environmental policy governing the activities of the Petrofac group and reviews the effectiveness of Petrofac's adherence to environmental management systems in place.

To view the Environmental Committee's terms of reference Click here.

Risk Comittee
The Risk Committee advises the Board on the adoption and implementation of appropriate policy and procedure for risk monitoring and assessment across the Petrofac group and keeps under review both the key risks to the business and the quality of risk management processes and controls. It also assists the Audit Committee in respect of any external disclosures on risk management systems.

To view the Risk Committee's terms of reference Click here.

Annual Report Extracts

To view the latest Corporate Governance report Click here
To view the latest Remuneration report Click here