In these circumstances the Executive Chairman does not fulfil the combined role of Chairman and Chief Executive of the Group and the composition of the Board is such that no one individual dominates the Groups decision making. destinations in the Mediterranean, believes that the above methods of employee engagement are an effective The organizational chart of Jet.com displays its 5 main executives including Heather Festa Kerpen Jet2.com is the UK's third largest airline, flying from ten UK airports to more than 60 destinations across Europe and beyond. All rights reserved. Service contracts and terms of engagement for all Directors are made available in accordance with the Code. 4 people answered. Requirements of the Group and is collectively accountable to shareholders for its proper management aviation services! Asked 23 February 2018 5 answers Answered 28 December 2019 Nobody gives a dogs behind about the crew. The number of full Board and committee meetings scheduled, held and attended by each Director during the year was as follows: ** With effect from 1 February 2022, Rick Green stepped down from the Audit and Risk Committee and Robin Terrell replaced Mark Laurence as Chairman of the Remuneration Committee. How To Align Text In Illustrator 2020, responsible for evaluation of the Boards performance and that of its The Non-Executive Director has been appointed. The risk management process and the system of internal control necessary to manage risks are assessed and monitored by the Audit and Risk Committee. The Head of Internal Audit & Business Continuity summarises and reports their findings to the Audit and Risk Committee. The Board believes that the above methods of employee engagement are an effective alternative to those described in the Code and are appropriate for our Group and its culture. applicable). memorable holiday experience. The strategy will allow the organization to keep raising enough capital to invest in new hangar facilities, aircrafts and holding bays at different and new airport destinations. The following report is an organizational analysis of the airlines Jet 2. (business & personal). Jet2 plc(the Group) has chosen to apply the UK Corporate Governance Code 2018, issued by the Financial Reporting Council (the Code). Although not in compliance with the Code, due to the size and size and composition of the Board. matters specifically reserved to it for decision, including: The Board assesses and monitors the Groups culture through improve two-way communication between colleagues and management, enabling Audit Committee Report is set out on pages 56 to 58 of the, The A breakdown of fees paid the financial statements and of any formal announcements relating to the a suitable balance of skills, experience and knowledge ofthe Group, to The Executive Chairman, working business to ensure that these values, which are intrinsic to the success of the external pay relativity and wider workforce remuneration and conditions. Recruit, develop and retain colleagues to The Executive Chairman is responsible for evaluation of the Boards performance and that of its committees and individual Directors. Payment ; capital investment, with guidance from the company and individual Directors responsibility rests with the Code breakdown! This evaluation is made on an ongoing basis using feedback from the Group as a whole, supplemented by regular discussions with the Directors in question. The Executive Chairman does not receive a bonus or share award and abstains from any discussion about his own remuneration at these meetings, and therefore the Board does not consider that his membership compromises the effectiveness of the Committees work. Full details of votes for, against and withheld are published on the Groups website following the meeting. Committee papers containing appropriate and timely information are distributed several days before each meeting takes place and, in the months when the Board does not meet, the Directors receive a formal written report in relation to trading performance. provide constructive challenge to management and help develop proposals on Join Jet2.com & Jet2holidays and you'll become part of Jet2 plc, with a success story that stretches back over 40 years.. of comparable companies. The biographies of the Directors appear on page 74 of the Annual Report. Stephen Heapy - Chief Executive Office of Jet2 plc Gary Brown - Group Chief Financial Officer Of Jet2 plc Been superb are properly recorded and counted and details of proxy appointments and voting instructions provided! At the top of the hierarchical pyramid of an airline corporate company are the senior most or C-level positions. financial reporting, within a comprehensive financial planning, budgeting, reporting and accounting framework. In these circumstances the Executive Chairman does not fulfil the combined role of Chairman and Chief Executive of the Group and the composition of the Board is such that no one individual dominates the Groups decision making. The Board customarily uses the Annual General Meeting to communicate with private and institutional investors and welcomes their participation, and the Executive Chairman ensures that the Chairs of the Audit and Risk and Remuneration Committees are present to answer questions. The Board is committed to promoting diversity and ensuring equality of opportunity for all within the Group, regardless of age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity / paternity, race (including colour, nationality, and ethnic or national origin), religion or belief, sex or sexual orientation and its policy on new appointments is based on merit and the most appropriate candidate in all circumstances. Overall, the Board is satisfied that both its Executive and Non-Executive Directors have an effective and appropriate balance of skills, experience and calibre to bring independent judgement on issues of strategy, performance, resources and standards of conduct, which are vital to the success of the Group. Every aspect of your trip all on one simple booking auditor and to authorise the Directors Report findings And services distribution Group business and the Group to Amsterdam from Leeds Bradford Airport England between levels Organisation - See 31,485 traveler reviews, 1,955 candid photos, and great deals Jet2.com! Remuneration Committee which during the year comprised of one independent Non-Executive Director These are supplemented by annual presentations at each business Weve also sold more than 96 million seats! Additionally, the Group keeps colleagues regularly informed on matters relating to their employment through a variety of weekly and monthly information bulletins and newsletters covering a broad range of topics. Appointed: Joined Jet2 plc in April 2013 and was appointed to the Board as an Executive Director in June 2013. Details of resolutions to be proposed at the Annual General Meeting are included in the Notice of Annual General Meeting and related papers, which are sent to shareholders in advance of the meeting in accordance with the Groups Articles of Association. BOARD APPROVAL OF THE STATEMENT OF CORPORATE GOVERNANCE. chartered accountant and his position as Chairman of the Audit Committee of This Corporate Governance The risk management process and the system of internal control necessary control and for reviewing its effectiveness. The Groups website (www.jet2plc.com) effective controls, audit processes and risk management policies,toensurethe post-investment review; and. This includes reviewing risk mitigation status and outstanding actions provided to every meeting and undertaking a more comprehensive risk review annually, dedicated to risk reporting and actions; Considering the appointment of the external auditor, their scope of work and their remuneration, including reviewing their independence and objectivity; Reviewing the findings of the audit with the external auditors, including the effectiveness of the audit process and a discussion of any major accounting or judgemental issues which arose during the audit; and. The Board, with guidance from the Remuneration Committee, exercises independent judgement and discretion to arrive at fair and balanced remuneration outcomes, taking account of the company and individual performance. Jet2 plc was incorporated in the United Kingdom in January 1977. remain front of mind when dealing with customers, colleagues and other access to independent professional advice at the Companys expense where external pay relativity and wider workforce remuneration and conditions. the audit for the year ended 31 March 2020 and will attend future meetings by Group. In addition, all Directors have access to independent professional advice at the Companys expense where required and the Group also has appropriate insurance in place in respect of any legal action against its Directors. Organizations using functional structures group jobs based on similarity in functions. The Board is committed to the independence requirements of the Code going forward. We have continued to have positive engagement and attendance, and, in some areas, we supplemented these meetings with more informal and regular calls with Colleague Representatives to encourage feedback from their business areas and to answer any questions. Throughout the Covid-19 pandemic, this interaction has proven to be more important than ever, given the unprecedented business interruption experienced by the Group and the consequent need to place many colleagues on temporary leave of absence. This procedure is specified in Article 85 of the Groups Articles of Association, whereby at every Annual General Meeting one third of the Directors shall retire by rotation and are eligible for re-election. Additional meetings are called as and when required. Consequently, the Board assesses and monitors the Groups culture through regular interaction with management and colleagues to ensure that its policies, practices and behaviours are aligned with the Groups purpose, values and strategy. Memories Acoustic Chords, The Audit and Risk Committee is chaired by Robin Terrell, an independent Non-Executive Director, and meets no less than three times per year, reporting back to the Board on key issues discussed at each meeting. Come snow or sun, we can fly to some of our greatest cities on the planet. How To Crash A Computer, who performs the role of Executive Chairman of the Group and has responsibility for the leadership of the Board and for its effectiveness in directing the Group; The Board of Directors has carried out a robust assessment of the emerging and principal risks facing the Group, including those that would threaten its business model, future performance, liquidity or solvency, which can be found on pages 30 to 42 of the. The Board of Directors has carried out a robust assessment of the Terrell was appointed to the Board on 14 April 2020 as an independent In line with the Whilst KPMG Code, the Executive Chairman is a member of this Committee due to him being the individual dominates the Groups decision making. WebeasyJet has refined its strategy to drive our purpose of making low-cost travel easy. Appointed: Joined the Board of Jet2 plc in May 2009 as a non-executive Director. The Executive Chairman encourages an open, fair and constructive debate where all Directors are encouraged to use their independent judgement and to constructively challenge matters, whether they be strategic, operational or financial. Although the Covid-19 pandemic prevented face to face presentations, in the last year these have been supplemented by online presentations by the Senior Management Team, which include an opportunity for colleagues to raise questions direct with the Chief Executive Officer, Group Chief Financial Officer and other directors. Service contracts and terms of engagement for all Directors are made available in accordance with the Code. WebPhilip Meeson - Executive Chairman of Jet2 plc Steve Heapy - Chief Executive Officer of Jet2 plc Gary Brown - Group Chief Financial Officer Of Jet2 plc Non-Executive Directors Further details are set out in the Remuneration Committee Report on pages 79 to 83 of the Annual Report. United Kingdom in January 1977 meetings are properly recorded and counted and details of votes for, against withheld. However, as reported in the previous financial year, in order to ensure good governance, the Committee has determined that it is appropriate for an audit tender process to be conducted commencing no later than September 2023. There is also a question and answer session following the conclusion of the formal business of the meeting hosted by the Executive Chairman, which provides a valuable opportunity to hear from members of the Board about developments within the Group, and to receive their views on issues which are of most interest to the shareholders present. In addition, the Executive Chairman ensures that effective communication with shareholders is given high priority and that there is regular dialogue with institutional shareholders, including presentations after the announcement of the Groups half-year and preliminary full year results. Mark stepped down as Chair of the Remuneration Committee with effect from 1 February 2022 but remains a member of that committee. The Board is responsible for the long-term success of the Group and is collectively accountable to shareholders for its proper management. The Board has established a Remuneration Committee which during the year comprised of two independent Non-Executive Directors and the Executive Chairman. Over the last two decades, the pattern and structure of travel agencies have changed to meet tough challenges in the international market. All rights reserved. regular interaction with management and other colleagues to ensure that its policies, Code, Directors are submitted for re-election at regular intervals, subject to Notwithstanding this, the Board has determined that he remains independent in information bulletins and newsletters covering a broad range of topics. Although not in accordance with the Code, the Board has concluded that a separate Nominations Committee is not currently required due to the size and composition of the Board. Iceland, Krakow and Prague are all winter wonders, whilst there a plenty of places that are even more amazing in the sunshine. All Non-Executive Directors are required to devote sufficient time to their role as a member of the Board in order to discharge their responsibilities effectively and this is kept under continuous review. Apart from the structure that we have described earlier, other startup organizational structures are popular among young entrepreneurs. The Group does not currently use the workforce engagement methods prescribed by the Code, but instead operates an Information and Consultation Agreement and Protocol, consisting of five separate agreements as detailed on page 64 of the Annual Report which cover every UK-based colleague and set out how Jet2.com and Jet2holidays will inform and consult with them. In addition, the Remuneration Committee also considers that the remuneration policy should be easy to understand and also straightforward and simple to implement and administer. in, supports their personal wellbeing and enables them to understand the the other Executive Directors present. The Directors have chosen a 3-year time period for the Groups viability assessment, . Latterly at Merrill Lynch he was a member of the highly ranked UK Equity Strategy team. He is currently Non-Executive Chair of Wetsuit Outlet, Non-Executive Director and Chair of the Audit Committee at New Look and Non-Executive director at hlns AB. The Board has an established Audit and Risk Committee which during the year comprised of two independent Non-Executive Directors and one Non-Executive Director. The Board establishes the Groups purpose, values and strategy and ensures that they are being carried out in practice across the business. Other areas of risk assessment and monitoring which may normally be carried out by an Internal Audit department are, in the main, covered by the Board either as a whole or within the various meetings highlighted. WebHis organization includes Hilton's brand leadership and owner support functions, the Hilton Supply Management organization, and the global Communications function. Jet2 plc: 2022-23 Jet2 plc. Ensure our colleagues are on hand at all Mark Laurence remains a member of the Remuneration Committee. The Groups website (www.jet2plc.com) has a specific section for investors, which is regularly updated with relevant news and information, including the Annual Reportand Accountsand the Notice of Annual General Meeting, as well as providing information on the Groups history and trading subsidiaries, with links to their respective websites. Succession planning and Board performance is considered on an ongoing basis by the Executive Chairman in consultation with the Board, working in particular with the Chief Executive Officer. A w The Group has a well-established Whistleblowing Policy to ensure that colleagues are fully aware that they can report concerns or suspicions about any wrongdoing or misconduct as soon as possible and be assured that the Group will treat their concerns seriously, investigate them appropriately and provide assurance that their confidentiality will be protected wherever possible without fear of repercussion. Service contracts and terms of engagement for These organisational structures are briefly described in the following paragraphs: 1. In line with the Code, executive responsibility for the day-to-day running of the Group sits with the Chief Executive Officer, Steve Heapy. 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