EasyJet 2014 Annual Report Download - page 71

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www.easyJet.com 69
Governance
C. Accountability
C.1 Financial and Business Reporting
Please refer to:
• page 92 for the Board’s statement on the Annual report
and accounts being fair, balanced and understandable;
• page 26 for the statement on the status of the Company
and the Group as a going concern; and
• the Strategic report for an explanation of the Company’s
business model and the strategy for delivering the
objectives of the Company.
C.2 Risk Management and Internal Control
The overall responsibility for easyJet’s systems of internal
control and for reviewing their effectiveness rests with the
Board. The Board has conducted an annual review of the
effectiveness of the systems of internal control during the
year, under the auspices of the Audit Committee. Please
refer to page 70 for further information on the Company’s
risk management and internal control systems.
C.3 Audit Committee and Auditors
For further information on the Company’s compliance with
the Code provisions relating to the Audit Committee and
auditors, please refer to the Audit Committee report on
pages 60 to 63.
D. Remuneration
For further information on the Company’s compliance
with the Code provisions relating to remuneration,
please refer to:
• the Directors’ remuneration report for the level
and components of remuneration (D.1); and
• page 59 (the Remuneration Committee report)
for the procedure relating to remuneration (D.2).
E. Relations with shareholders
E.1 Dialogue with Shareholders
The Company actively engages with investors and solicits
their feedback. The Chairman and Deputy Chairman (also
being the Senior Independent Director) have both met with
shareholders to help maintain a balanced understanding
of their issues and concerns. They have both updated
the Board on the opinions of investors. The views of
shareholders and market perceptions are also regularly
communicated to the Board via a formal monthly report and
regular verbal briefings. In addition, an investor perception
audit was carried out by an independent third party.
easyJet has an investor relations department which
runs an active programme to facilitate engagement with
investors based around the financial reporting calendar.
This year the programme has included one-to-one
meetings with institutional investors, road shows,
conferences and an Investor Day in September. There
is also regular communication with institutional investors
on key business issues.
During the course of the year the Chief Executive and
Chief Financial Officer have both met with representatives
of easyGroup Holdings Limited, the Company’s largest
shareholder, to discuss relevant matters. The Chief Financial
Officer has also met separately with representatives
of easyGroup IP Licensing Limited (an affiliate of
easyGroup Holdings Limited) to discuss matters relating
to the management and protection of the “easyJet” and
“easy” brands.
E.2 Constructive use of the Annual General Meeting
The Annual General Meeting gives all shareholders the
opportunity to communicate directly with the Board and
encourages their participation. Shareholders are given the
opportunity to raise issues formally at the Annual General
Meeting or informally with Directors after the meeting. All
Directors normally attend the Annual General Meeting and
the Chairs of the Committees are available to answer
questions at the Annual General Meeting.