Board Committees

In this section you will find information relating to LB-Shell Plc’s Board committees. Given the status of the Company’s current activities and the size of the Board, the full Board of Melissa Sturgess (Chair), Charles Morgan and Michael Langoulant form all Board Committees and undertake those obligations and responsibilities.

Audit & Risk Committee

The Board has established an audit and risk committee with formally delegated duties and responsibilities. This committee meets at least two times a year and, if possible, all of its members are independent non-executive directors. This committee is responsible for ensuring the financial performance of the Company is properly reported on and monitored, including reviews of the annual and interim accounts, results announcements, internal control systems and procedures and accounting policies, as well as keeping under review the categorisation, monitoring and overall effectiveness of the Company’s risk assessment and internal control processes.

Download the Audit and Risk Committee Terms of Reference »

Policy for the provision of non-audit services by the external auditor

Remuneration Committee

The remuneration committee meets at least two times per year and, if possible, all of its members are independent non-executive directors. This committee has responsibility for determining, within agreed terms of reference, the Group’s policy on the remuneration of senior executives and specific remuneration packages for executive directors and the Chairman, including pension rights and compensation payments. It is also responsible for making recommendations for grants of options under share-based schemes for Group employees.

The remuneration of non-executive directors is a matter for the Board. No director may be involved in any discussions as to their own remuneration.

Download the Renumeration Committee Terms of Reference »

Nomination Committee

The nomination committee is expected to meet at least once per year and, if possible, the majority of its members are independent non-executive Directors. This committee is responsible for reviewing, within the agreed terms of reference, the structure, size and composition of the Board, undertaking succession planning, leading the process for new Board appointments and making recommendations to the Board on all new appointments and re-appointments of existing directors.

Download the Nomination Committee Terms of Reference »

Articles of Association

Download our Articles of Association »

Corporate responsibility

The Company seeks to be a good corporate citizen wherever it conducts business, to observe all national and local laws and take into account regional and local concerns, customs and traditions.

One of the fundamental principles of LB-Shell Plc is to conduct all of its business in an open, honest and ethical manner.

We take a zero tolerance approach to bribery and corruption and are committed to acting professionally, fairly and with integrity in all business dealings and relationships, within all jurisdictions in which we operate, complying with the requirements of the UK Bribery Act. The Company has adopted group-wide anti-bribery policies; in support of these it is strengthening internal controls as part of its anti-bribery management system.