The Audit Committee comprises of 2 members all of which are non-executive directors: Robert Burnham and Rashid Wally. The committee assists the board of directors to fulfil its corporate governance and oversight responsibilities in relation to fastjet’s financial reporting, internal controls, risk management and internal / external audit functions. It focuses in particular on compliance with accounting policies and ensuring that an effective system of internal and external audit and financial control is maintained, including considering the scope of the annual audit and the extent of the non-audit work undertaken by external auditors and advising on the appointment of external auditors. The audit committee will meet at least four times a year at the appropriate times in the financial reporting and audit cycle.
The Remuneration Committee comprises of 2 members all of which are non-executive directors: Robert Burnham (Chairman) and Rashid Wally. The committee reviews the scale and structure of the executive directors’ and senior employees’ remuneration and the terms of their service or employment contracts, including share option schemes and other bonus arrangements. The remuneration and terms and conditions of the non-executive directors are set by the entire Board. The remuneration committee will meet at least two times a year.
The Nomination Committee comprises of 2 members all of which are non-executive directors: Rashid Wally (Chairman) and Robert Burnhan. The committee is responsible for evaluating the balance of skills, knowledge and experience of the Board, its size, structure and composition, and for identifying candidates to fill vacancies on the Board, as and when they arise. The Nomination Committee will make appropriate recommendations to the Board on such matters. The nomination committee will meet at least two times a year.
The Safety Committee currently comprises Robert Burnham (Chairman) and the Executive Committee, although all Board members are invited to attend meetings. The Safety Committee is responsible for monitoring the governance of safety and security management within the airline, ensuring that safety risks and security threats are adequately monitored and that sufficient resources exist to ensure that management and reporting within the Company is maintained at a suitable level.