Board committee

In accordance with good practise for corporate governance for a company of its size, Action Hotels has established, amongst other committees, the following committees in order to carry out work on behalf of the Board: an audit committee and remuneration committee.

Audit committee

The Audit Committee comprises Prof. Stefan Allesch-Taylor (who chairs the committee), John Johnston and Raymond Chigot and will meet at least three times a year. The committee assists the Board in meeting its responsibilites for ensuring that Action Hotels’ financial systems provide accurate and up to date information on its financial position and that the published financial statements represent a true and fair reflection of this position. It also assists the Board in ensuring that appropriate accounting policies, internal financial controls and compliance procedures are in place. In addition, the committee also monitors compliance with the Group’s anti-corruption and fraud policy. The auditors are able to attend its meetings and will provide reports to the committee as required, as well the Company Secretary who has direct access to the chairman of the committee.

Terms of reference for the Audit Committee

Remuneration committee

The Remuneration Committee comprises John Johnston (who chairs the committee), Prof. Stefan Allesch-Taylor and Raymond Chigot. The Committee advises the Board on an overall remuneration policy and meets at least twice a year. The committee also determines on behalf of the Board, and with the benefit of advice from external consultants, the remuneration packages of the executive Directors. The Board determines the remuneration of the non-executive Directors.

Terms of reference of the Remuneration Committee