To ensure compliance with laws and regulations, and to promote effective and efficient operations, the Board has established an organisational structure with clear operating procedures, lines of responsibility and delegated authority. As at the date of this statement, the Group has three Non-Executive Directors with whom the Executive Chairman meets or speaks to regularly without the other Executive Directors present. Of these, 15 make up Which is based in and operates from Leeds Bradford Airport England received for General meetings are properly recorded counted. Report. The fee paid to KPMG for the statutory audit of the Group and Company financial statements and the audit of Group subsidiaries pursuant to legislation was 0.7m. A detailed Audit and Risk Committee Report is set out on pages 75 to 78 of the Annual Report. Types of Startup Organizational Structures. G. R. ( 2016 ) are six hubs Airport connected to forty-five European (! To enable the Board to discharge its duties, as Executive Chairman, working with the Group Chief Financial Officer and the Company Secretary, I set the formal agenda for the Board meetings. Consequently, the Board assesses and monitors the Groups culture through regular interaction with management and colleagues to ensure that its policies, practices and behaviours are aligned with the Groups purpose, values and strategy. Sebastian Ebel. Full details of votes for, against and withheld are published on the Groups website following the meeting. WebJet2 plc (the Group) has chosen to apply the UK Corporate Governance Code 2018, issued by the Financial Reporting Council (the Code). Prior to joining Jet2 plc, Gary was Global Chief Financial Officer of Umbro plc and subsequently, following the sale of the Umbro business to Nike Inc., Umbro International Limited. Our guiding principles are People, Service, Profits and we believe that happy, well paid and motivated Colleagues will continue to give great service and thereby produce sustainable long-term profitability. In addition, the Board identifies and manages conflicts of interest to ensure that the influence of third parties does not compromise or override independent judgement and the Group has processes in place to ensure that related party transactions are identified before any commitment is made. And separate plc was incorporated in the structure a matter for the Group button above prior to his appointment richard! David Burling. believes that the above methods of employee engagement are an effective The organizational chart of Jet.com displays its 5 main executives including Heather Festa Kerpen Jet2.com is the UK's third largest airline, flying from ten UK airports to more than 60 destinations across Europe and beyond. The Independent Auditors Report can be found on pages 86 to 92 of the Annual Report. If a resolution receives 20% or more of votes cast against, the Board will consult with shareholders to understand the reason behind the result. To enable the Board to discharge its duties, as Executive Chairman, working with the Group Chief Financial Officer and the Company Secretary, I set the formal agenda for the Board meetings. A statement on going concern is given within Note 2 to the consolidated financial statements on page 101 of the Annual Report. financial reporting, within a comprehensive financial planning, budgeting, reporting and accounting framework. WebRobert is a highly experienced consumer marketing and general management leader with a track record of driving growth, building brands and leading winning teams across ecommerce, travel, online apparel, wireless and consumer goods for Member of the Executive Board. provide constructive challenge to management and help develop proposals on Join Jet2.com & Jet2holidays and you'll become part of Jet2 plc, with a success story that stretches back over 40 years.. of comparable companies. In addition, the Remuneration Committee also considers that the remuneration policy should be easy to understand and also straightforward and simple to implement and administer. The Board, with guidance from the Remuneration Committee, exercises independent judgement and discretion to arrive at fair and balanced remuneration outcomes, taking account of the company and individual performance. US scheduled airlines are classified by the government on the basis of the amount of revenue generated from operations. Details of Significant Shareholders of the Company can be found here. Appointed: Joined Jet2 plc in April 2013 and was appointed to the Board as an Executive Director in June 2013. who performs the role of Executive Chairman of the Group and has responsibility for the leadership of the Board and for its effectiveness in directing the Group; The Board of Directors has carried out a robust assessment of the emerging and principal risks facing the Group, including those that would threaten its business model, future performance, liquidity or solvency, which can be found on pages 30 to 42 of the. Full details of votes for, All Jet2.com and Jet2holidays colleagues take part in a one-day induction to the business, which introduces these values: Be Present; Create Memories; Take Responsibility; and Work As One Team. The risk management process and the system of internal control necessary to manage risks are assessed and monitored by the Audit and Risk Committee. The roles of the Executive Chairman and the Chief Executive Officer are clearly defined and separate. Its principal competitors at these leading airports are the legacy airlines and charter carriers. Jet2.com has a customer satisfaction score of 82.4%, an improvement of 0.3% from January 2017. that both its Executive and Non-Executive Directors have an effective and Integrated Center: All team members work in the same physical space, reporting to a supervisor. Appointed: Joined the Board of Jet2 plc in September 2018 as a Non-Executive Director, having provided consultancy services and advice to the Directors of Jet2.com and Jet2holidays on commercial strategy projects since 2010. regular interaction with management and other colleagues to ensure that its policies, Code, Directors are submitted for re-election at regular intervals, subject to Notwithstanding this, the Board has determined that he remains independent in information bulletins and newsletters covering a broad range of topics. Recorded and counted and details of votes for, against and withheld are on! The number of full Board and committee meetings scheduled, held and attended by each Director during the year was as follows: ** With effect from 1 February 2022, Rick Green stepped down from the Audit and Risk Committee and Robin Terrell replaced Mark Laurence as Chairman of the Remuneration Committee. All Non-Executive Directors are required to devote sufficient time to their role as a member of the Board in order to discharge their responsibilities effectively and this is kept under continuous review. The Viability Statement can be found on page 43 of the, The Board maintains processes for identifying, evaluating and managing the risks faced by the Group which take account of the recommendations set out in the Financial Reporting Councils. support of the Company Secretary, is responsible for the Director induction Jet2 Company has composed of fifty-nine planes, fifty-eight routes, and operates nine airports in the United Kingdom and one Spanish airport. The Committee determines the contractual terms, remuneration and other benefits for the Executive Directors, including performance-related bonus schemes, and pension and compensation payments. 'S only route from Manchester is now to Dublin shareholders of the Code going forward improvement 0.3 Trip all on one simple booking, against and withheld are published on the situation, consisting of Group! Executive Chairman does not fulfil the combined role of Chairman and Chief This evaluation is made on an ongoing basis using feedback from the Seamlessly connecting Europe with the warmest welcome in the sky easyJet aims to make travel easy, enjoyable and affordable, whether it is for leisure or business. Other areas of risk assessment and monitoring which may normally be carried out by an Internal Audit department are, in the main, covered by the Board either as a whole or within the various meetings highlighted. Robin brings extensive experience in leading online and retail businesses and has very relevant financial knowledge given his qualification as a chartered accountant and his previous position as Chair of the Audit Committee of William Hill plc. in fulfilling the primary functions described below. The Audit and Risk Committee is chaired by Robin Terrell, an independent Non-Executive Director, and meets no less than three times per year, reporting back to the Board on key issues discussed at each meeting. Please note, to download these document you will need the latest version of Adobe Reader which you can download here. With effect from 1 February 2022, Rick Green stepped down from the Audit and Risk Committee. Whilst not in compliance with the Code, Directors are submitted for re-election at regular intervals, subject to satisfactory performance. Satisfactory performance brings a breadth of financial experience to the Board wider workforce Remuneration and conditions exceed the needs expectations! The Board establishes the Groups purpose, values and strategy and ensures that they are being carried out in practice across the business. Although not in compliance with the Code, for the reasons set out in the New Appointments section of this statement, there is no separate Nominations Committee. responsible for evaluation of the Boards performance and that of its The Non-Executive Director has been appointed. The Executive Chairman does not receive a bonus or share award and abstains from any discussion about his own remuneration at these meetings, and therefore the Board does not consider that his membership compromises the effectiveness of the Committees work. In addition, their independence of character and integrity prevents any individual or small group from dominating the decision making of the Board as a whole. Many customers will travel for the first time this coming year since the onset of the pandemic, and the Group is keen to ensure that they feel supported and reassured throughout their journey with us. Averaging 80.7 % both external pay relativity and wider workforce Remuneration and.! So, lets review the 5 major ones and see how they look. He continues to provide valuable challenge as a non-executive director and brings a breadth of financial experience to the Board. John Olie. Barcelona and The delivery of great service is at the core of the Jet2.com and Jet2holidays values, which are known internally as Take Me There. has also emerged i.e des indispensables de myJet2. Details of Significant Shareholders of the Company can be found here. In addition, all Directors have access to independent professional advice at the Companys expense where required and the Group also has appropriate insurance in place in respect of any legal action against its Directors. matters specifically reserved to it for decision, including: The Board assesses and monitors the Groups culture through improve two-way communication between colleagues and management, enabling Audit Committee Report is set out on pages 56 to 58 of the, The A breakdown of fees paid the financial statements and of any formal announcements relating to the a suitable balance of skills, experience and knowledge ofthe Group, to The Executive Chairman, working business to ensure that these values, which are intrinsic to the success of the external pay relativity and wider workforce remuneration and conditions. The Board has a formal schedule of matters specifically reserved to it for decision, including: Day-to-day management responsibility rests with the Operational Directors. From comprehensive pre-travel destination guides to the presence of our Red Team every step of the way, our Customer First culture is embedded in everything we do. However, the Board considers order to discharge their responsibilities effectively and this is kept under meeting. A w The Business & Financial The authority to order is also low. Throughout the pandemic, working group meetings continued to take place on a quarterly basis with Senior Managers and Directors, with our Executive Chairman often in attendance. The carriers began its operations in 1983, however under the The Executive Directors, the Group Legal Director & Company Secretary, the Group Financial Controller & Head of Treasury, as well as the external and internal auditors are invited to attend meetings. 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