EasyJet 2014 Annual Report Download - page 67

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www.easyJet.com 65
Governance
“ The Finance Committee continues to provide effective
oversight of the Group’s treasury and funding policies
and activities, ensuring that activities undertaken will not
subject the Group to undesired levels of risk, and that
treasury activities are appropriately aligned with Group
strategy and support Group financial performance. Next
year, the Committee will assist the Board in providing an
improved and broader assessment of the Group’s
long-term solvency and liquidity in light of the revised
UK Corporate Governance Code which requires on-going
viability disclosures by the Company. The revised Code
was published in September 2014 and will apply to the
Company’s 2015 financial year.”
Membership as at 30 September 2014
(all members are independent Non-Executive Directors)
• Adèle Anderson (appointed as Chair on 1 July 2014)
• David Bennett (stepped down from Committee on
1 October 2014)
• Keith Hamill (appointed to Committee on 1 July
2014 and stepping down from the Committee on
13 November 2014)
• Andy Martin
Charles Gurassa has also been appointed to the
Committee, effective from 13 November 2014.
Meetings held in the 2014
financial year: 4
FINANCE COMMITTEE
Adèle Anderson
Chair of the Finance Committee
Key responsibilities
To review and monitor the Group’s treasury policies and
treasury and funding activities, and the related risks.
Highlights of the 2014 financial year
The Committee undertook:
• a treasury policy review;
• a jet fuel hedging review;
• a review of the requirements of IFRS 13 (Fair Value
Measurement) which applies for the first time to the
2014 financial year; and
• a review and approval of a proposal to simplify the
Group’s intercompany loan structure.
Adèle Anderson
On behalf of the Finance Committee
Key responsibilities
To provide independent oversight over the governance
and controls relating to the IT business area, in particular
covering the required resilience and change. In particular
the Committee:
• monitors IT resources and capability to ensure
appropriate internal leadership, management calibre
and structure;
• reviews prioritisation of IT needs to ensure management
focuses on the right issues, with appropriate allocation
of resource; and
• oversees development of IT strategy to ensure it
supports easyJet’s long-term goals within the ambit
of its strategic framework.
Highlights of the 2014 financial year
The Committee has given guidance on the risk
framework surrounding the IT resilience and change.
John Browett
On behalf of the IT Governance and Oversight Committee
“ The IT Governance and Oversight Committee
was constituted in April 2014 to provide governance
oversight, and give independent validation and
challenge, to one of the Company’s key business areas.”
Membership as at 30 September 2014
(all members are independent Non-Executive Directors)
• John Browett (Chair)
• Adèle Anderson
• Keith Hamill
Meetings held in the 2014
financial year: 3
IT GOVERNANCE AND
OVERSIGHT COMMITTEE
John Browett
Chair of the IT Governance
and Oversight Committee