Remuneration committee: Joe Grimmond (Chairman) and David Low.
Responsible for the salary and bonus scheme for directors. For further information click here.
Audit Committee: David Low (Chairman) and Sharon Tinsley.
Responsible for the annual audit. For further information click here.
The Directors are responsible for the management of the business of the Coral group, setting its strategic direction and establishing its policies. It is the responsibility of the Directors to oversee the financial position of Coral and to monitor its business and affairs on behalf of its Shareholders, to whom the Directors are accountable.
The primary duty of the Directors is to act in the best interests of the company at all times. The Board also addresses issues relating to internal control and Coral’s approach to risk management.
• Committees are properly structured and operate with appropriate terms of reference.
• The performance of individual directors, the Board and its committees are reviewed on a regular basis.
• The Company has a coherent strategy and sets objectives against this.
• There is effective communication between the Company and its shareholders.
• Advises the Board on strategy and development.
• Advocates / promotes organisation and stakeholder change related to organisation mission.
• Supports motivation of employees in organisation products/programs and operations.
• Ensures staff and Board have sufficient and up-to-date information.
• Looks to the future for change opportunities.
• Interfaces between Board and employees.
• Interfaces between organisation and community.
• Formulates policies and planning recommendations to the Board.
• Decides or guides courses of action in operations by staff.
• Oversees operations of organisation.
• Implements plans.
• Manages human resources of organisation.
• Manages financial and physical resources.
• Assists in the selection and evaluation of board members.
• Makes recommendations, supports Board during orientation and self-evaluation.
Board Administration and Support
Supports operations and administration of Board by advising and informing Board members, interfacing between Board and staff.
Program, Product and Service Delivery
Oversees design, marketing, promotion, delivery and quality of programs, products and services.
Financial, Tax, Risk and Facilities Management
Recommends yearly budget for Board approval and prudently manages organisation’s resources within those budget guidelines according to current laws and regulations.
Human Resource Management
Effectively manages the human resources of the organisation according to authorised personnel policies and procedures that fully conform to current laws and regulations.
Community and Public Relations
Assures the organisation and its mission, programs, products and services are consistently presented in strong, positive image to relevant stakeholders.
The roles of Finance Director and Company Secretary are combined. The Board acknowledges the QCA guidelines on this matter and consider the joint roles appropriate for the Company’s size.
The Finance Director is responsible for providing financial oversight of the Group, preparing the accounts, monitoring the performance of the Group companies and reporting on financial matters to the Board. Providing financial input on acquisitions.
The Company Secretary is responsible for providing clear and timely information flow to the Board and its Committees and supports the Board on matters of corporate governance and risk. The Company Secretary has direct access to the Chairman on matters of Corporate Governance.
The Corporate Development Director is responsible in leading sales and client-relationship management, track new markets and emerging trends, recommend new products and services, propose and develop new strategic partnerships, writes proposals and plans, and guides long-term objectives to meet business needs and requirements.
• Support Coral Products PLC’s role in financial planning process across the group from development of guidance for business units through completion of Board deliverables.
• Coordinate with corporate business units on various financial plan submissions.
• Prepare timely and accurate financial plan information, analysis and presentations for various financial plan review meetings.
• Perform competitive intelligence of company’s peers including data outlining their financial performance and business strategies.
• Analyze and report key trends and issues impacting industry and organisation.
• Support dissemination of timely and accurate information for annual rating agency meetings and survey information.
• Identify and enforce acquisition opportunities and objectives in meaningful way.
• Manage an effective evaluation and due diligence process across functional disciplines.
• Evaluate, develop and recommend deals and optimal deal structures to ensure maximum positive results.
• Update and recommend senior management and Board of Directors regarding deal status, structure, valuation, strategic synergies, etc.
• Ensure apt roles and responsibilities for post-close integration are clear and accepted before closing an acquisition.
• Ensure closing process and agreements are handled appropriately working closely with legal, finance and other departments business partners.
• Direct and manage integration process post-close across functional departments.
• Cooperate and interact effectively with business leaders, team members and peers.
The role of the Independent Non-Executive Directors is to contribute independent thinking and judgement through the application of their external experience and knowledge, scrutinise the performance of the Executive Directors, provide constructive challenge and ensure that the Company is operating within the governance and risk framework approved by the Board.
Coral has a remuneration committee and an audit committee with formally delegated duties and responsibilities.
The remuneration committee, which comprises the executive directors and is chaired by the Non- executive Chairman, is responsible for determining Coral’s policy for the remuneration of the Directors and senior employees of the overall remuneration policy of the company.
The audit committee, which comprises the non-executive directors and is chaired by the Non-executive Chairman, meets on a regular basis under its terms of reference with the finance director and external auditors to review the financial statements and external financial announcements made by the company. It is responsible for reviewing and monitoring the external auditors independence and objectivity and reviews supplies of any non-audit services provided by the external auditors to ensure that independence and objectivity are not compromised.
A detailed breakdown of the constitution and terms of reference of the Audit and Remuneration Committee can be found here REMUNERATION COMMITTEE and AUDIT COMMITTEE