Transparency and good governance

Transparency and good governance are essential to delivering outstanding client service. We are committed to continuing to achieve this from a position of strength as a leader in our profession.

PM Group’s Board of Directors has delegated responsibility for the management of the company, through the Chief Executive, to the Executive Committee. The roles of Chairman and Chief Executive are not combined and there is a clear division of responsibilities between them. The Chief Executive is accountable to the Board for all authority delegated to the Executive Committee.

There is a formal schedule of matters reserved for consideration and decision by the Board. This includes approval of strategic plans for the Group, Board appointments, approval of financial statements, the annual budget, acquisitions, significant capital expenditure and review of the Group’s internal controls.

Membership of Board of Directors

PM Group maintains a high representation of independent non-executive directors on its Board, and the Chairman is a non-executive. Individual directors may seek independent professional advice, at the expense of the Company, in the furtherance of their duties as Director.

Board Committees

The Board has established a number of committees to assist in the execution of its responsibilities. These are the Audit, Risk and Finance Committee, the Nomination, Governance and Remuneration Committee and the Share Transaction Committee. Other committees may be formed from time to time to deal with specific matters.

Risk

Evaluating our resource and regional capability are key components of our successful project delivery. In line with our strategic objectives, PM Group continues the development and enhancement of our approach to risk management to ensure that we continue to deliver projects to the very high standards expected by our clients.

Some elements of our risk approach include:

  • A Group Risk Management Committee (GRMC) that meets monthly
  • A Risk Appetite Framework approved by the Board
  • Maintaining projects and operations risk registers

Our approach to the management of risk is comprehensive and reported at Board and Executive Committee levels.