Page 39 - Beeks Financial Cloud Group Annual Report 2021

Beeks Financial Cloud Group PLC
Chairman’s Introduction For the year ended 30 June 2021

senior management team, with and Remuneration Committee. The SKILLS AND CAPABILITIES
the qualification and experience Report of the Audit Committee can Biographies of the Board of Directors
necessary to run the Company. be found on pages 44 to 45. The can be found on pages 24 and 25.
Audit Committee is chaired by Mark
Each member of the Board brings Cubitt and includes William Meldrum Each member of the Board brings
different experience and skills to and Kevin Covington. different skills and experience to the
the Board and its various committees. Board and the Board Committees.
The Nomination and Remuneration The Board is satisfied that there
The Board composition is kept under Committee is chaired by Mark Cubitt is sufficient diversity in the Board
review as this mix of skills and business and includes William Meldrum and structure to bring a balance of skills, GOVERNANCE
experience is a major contributing Kevin Covington. The Committee experience, independence and
factor to the proper functioning has overall responsibility for making knowledge to The Group.
of the Board, helping to ensure recommendations to the Board
matters are fully debated and that of the remuneration packages of The Chief Executive Officer’s role is
no individual or group dominates the the Executive Directors. The Board critical in developing and maintaining
Board decision-making process. considers it appropriate, due both the sustainability and effectiveness
to the size of The Group and the of The Group. Specifically, the
The Code requires that the experience of the Board members, Chief Executive Officer’s key
Board undertakes a formal and to have a combined nomination responsibilities include:
rigorous annual evaluation of its and remuneration committee. / Leading the development and
own performance and that of its execution of The Group’s vision and
Committees and Directors. The These Board operate under the terms strategy
Board continues to annually review of reference as set out in The Group’s / Senior human resource
its composition, to ensure there Financial Position and Prospects. The management: Recruit, retain and
is adequate diversity to allow for Audit Committee and the Nominations motivate an appropriately skilled
its proper functioning and that the and Remuneration Committee met executive management team
Board works effectively together as three times during the year. / Representing The Group: The Chief
a unit. When a new appointment Executive Officer will be required to
to the Board is due to be made, RE-ELECTION consistently present The Group and
consideration will be given to the Under the Code, Directors should its objectives to key stakeholders
particular skills, knowledge and offer themselves for re-election at and the market in general
experience that a potential new regular intervals. It is proposed that / Lead and drive overall Merger and
member could add to the existing at least one of the directors will be Acquisition strategy
Board composition. put forward for re-election at The
Group’s AGM which will be scheduled The Chief Executive Officer is
BOARD COMMITTEES during November 2021. therefore expected to keep up to
The Board has established date with the industry and market in
two committees to deal with PRINCIPLE 6: ENSURE THAT which the Company operates.
specific aspects of the Board’s BETWEEN THEM THE DIRECTORS The primary function of the CFO is
responsibilities: the Audit HAVE THE NECESSARY to ensure that The Group’s Board is
Committee and the Nomination UP-TO-DATE EXPERIENCE, able to make proper judgements
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