The Board comprises six Directors, reflecting a blend of different experiences and backgrounds. The Board believes that the composition of the Board brings a desirable range of skills and experience in light of the Company’s opportunities and challenges as a public company, while at the same time ensuring that no individual (or a small group of individuals) can dominate the Board’s decision-making.
The Board meet regularly to review, formulate and approve the Group’s strategy, budgets, corporate actions and oversee Ashtead Technology’s progress towards its goals. The Company has audit, remuneration and nomination committees with formally delegated duties and responsibilities and with written terms of reference. Each of these committees meet regularly and at least two times a year.
From time to time, separate committees may also be set up by the Board to consider specific issues when the need arises.
The Audit Committee with Tony Durrant as Chairman, has primary responsibility for monitoring the quality of internal controls, ensuring that the financial performance of the Company is properly measured and reported on and reviewing reports from the Company’s auditors relating to its accounting and internal controls, in all cases having due regard to the interests of Shareholders. The Audit Committee meets at least twice a year. Bill Shannon and Thomas Thomsen are the other members of the Audit Committee.
The Remuneration Committee with Tony Durrant as Chairman, reviews the performance of the executive directors and determine their terms and conditions of service, including their remuneration and the grant of options, having due regard to the interests of Shareholders. The Remuneration Committee meets at least once a year. Bill Shannon and Thomas Thomsen are the other members of the Remuneration Committee.
The Nomination Committee with Bill Shannon as Chairman, identifies and nominates for the approval of the Board candidates to fill board vacancies as and when they arise. The Nomination Committee meet at least once a year. Tony Durrant, Thomas Thomsen, Joe Connolly and Allan Pirie are the other members of the Nomination Committee.