BP 2007 Annual Report Download - page 78

In addition to the AGM (which 17 directors attended), the board met
Board and committees: meetings and attendance 12 times during 2007 for meetings of varying length: nine times in the
UK, twice in the US and once in Brussels. Two of these meetings
The board requires all members to devote sufficient time to the work of focused solely on strategy, one of them of two-days’ duration. A number
the board to discharge the office of director and to use their best of board committee meetings were held during the year; for details of
endeavours to attend meetings. these and their attendance by board members please see the table
below.
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Board Audit Chairman’s Remuneration Nomination
meetings committee SEEAC committee committee committee
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P D Sutherland 12/12 – – 5/5 6/6 5/5
J H Bryan 6/6 7/7 – 2/2 2/2 –
ABurgmans 12/12 – 8/8 5/5 – –
C B Carroll 3/4 – – 2/2 – –
Sir William Castell 11/12 14/14 7/8 5/5 – –
EBDavis,Jr 11/12 13/14 – 5/5 6/6 –
D J Flint 11/12 12/14 – 5/5 – –
Dr D S Julius 12/12 – – 5/5 6/6 5/5
Sir Tom McKillop 10/12 – 7/8 5/5 6/6 –
Dr W E Massey 12/12 – 8/8 5/5 – 5/5
Sir Ian Prosser 12/12 14/14 – 5/5 6/6 5/5
Lord Browne 6/6––––
Dr D C Allen 12/12––––
I C Conn 12/12––––
Dr B E Grote 11/12––––
Dr A B Hayward 12/12––––
A G Inglis 9/9––––
JAManzoni 8/9––––
–
–
–
–
–
–
–
of the chairman (which is then reported to the BP board). The board is
Serving as a director satisfied that these appointments do not conflict with their duties and
commitments to BP. Executive directors retain any fees received in
Induction respect of such external appointments and this is reported in the
Following their appointment to the board, new directors undertake an directors’ remuneration report.
induction programme, which includes matters such as the operation and
activities of the group (for example, key financial, business, social and Non-executive directors may serve on a number of outside boards,
environmental risks to the group’s activities), the board governance provided they continue to demonstrate the requisite commitment to
principles and the duties of directors. The operational and business discharge their duties to BP effectively. The nomination committee
element of the induction programme is tailored to the requirements of keeps under review the nature of directors’ other interests to ensure
the new director and is targeted for completion within the first six to nine that the efficacy of the board is not compromised and may make
months of taking office. recommendations to the board if it concludes that a director’s other
The chairman is accountable for the induction of new board members commitments are inconsistent with those required by BP.
and is assisted by the company secretary’s office in this task.
Evaluation
Training and site visits The board continued its ongoing evaluation processes to assess its
Directors are kept briefed on BP’s business, the environment in which performance and identify areas in which its effectiveness, policies and
it operates and other matters throughout their period in office. Non- processes might be enhanced. The board evaluated its performance
executive directors also receive training specific to the tasks of the during the year through the use of a board skills evaluation completed by
particular board committees on which they serve in order to complement an external facilitator and also individual director interviews held by the
their skills and knowledge and enhance their effectiveness during their company secretary. The process aimed at building on the outcome of the
tenure. On appointment, directors are advised of the legal and other previous year’s evaluation and assessing the way in which the board had
duties and obligations they have as directors of a listed company. The responded to issues that occurred during 2007. A report from the
board regularly considers the implications of these duties under the board external facilitator was considered by the board and recommendations
governance principles. adopted. The outcome from the evaluation has led the board to focus
During 2007, board members undertook visits to Thunder Horse in the on certain areas for 2008, including a greater use of site visits and
Gulf of Mexico, the refineries at Texas City and Gelsenkirchen, BP’s UK restructuring of forward board agendas.
trading operations in Canary Wharf and BP’s offices in Houston. All non- Separate evaluations of the audit and remuneration committees and of
executive directors are now required to participate in at least one site SEEAC took place during the year and are outlined in the reports for
visit per year. those committees below (and in the directors’ remuneration report in the
case of the remuneration committee).
Outside appointments
As part of their ongoing development, executive directors are permitted
to take up one external board appointment, subject to the agreement
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