Globaltrans has established three committees to assist the Board and ensure transparency and impartiality in specific areas: the Audit committee, the Nomination committee and the Remuneration committee. The Chairperson of each committee is an Independent Director.

All committees are advisory bodies. While these committees have the authority to examine particular issues and report back with recommendations, the ultimate decision-making responsibility for all matters lies with the full Board.

Audit committee

The role of the Audit committee is to ensure the integrity of the Group’s published financial information and the effectiveness of the internal audit function and systems of internal control and risk management, and external audit process.

Members

John Carroll Colley (Chairman)
Independent Non-executive Director

Elia Nicolaou
Non-executive Director

George Papaioannou
Independent Non-executive Director


Responsibilities

 
  • Integrity of the Group’s financial statements.
  • Effectiveness of the Group’s internal control and risk management systems.
  • Relationship with the Group’s external auditors, including the audit process and reports.
  • Terms of the auditor’s appointment and remuneration.
  • Implementation of codes of conduct.
  • Assessment of the Chairman of the Board’s performance.
 
Nomination committee

The role of the Nomination committee is to monitor and review the composition and balance of the Board and its committees to ensure Globaltrans has the right structure, skills and diversity for the effective management of the Group.

Members

Johann Franz Durrer (Chairman)
Senior Independent Non-executive Director

John Carroll Colley
Independent Non-executive Director


Responsibilities

 
  • Preparation of selection criteria and appointment procedures for Board members.
  • Regular review of the Board’s structure, size and composition.
  • Future Board appointments.
  • Recommendations regarding the membership of the Audit and Remuneration committees.
 
Remuneration committee

The role of the Remuneration committee is to ensure that executive remuneration aligns with the business strategy and that the remuneration policy remains appropriate.

Members

Johann Franz Durrer (Chairman)
Senior Independent Non-executive Director

John Carroll Colley
Independent Non-executive Director


Responsibilities

 
  • Remuneration of Executive Directors (Chairman and Executive Directors decide the remuneration for independent members).
  • Review of the Group’s remuneration policies.
 
Last updated: 07.05.2020