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Our board committees

We have five board committees, which assist the board with its responsibilities.

Membership of the committees consists solely of independent non-executive directors. Executive directors and senior management attend certain meetings by invitation.

Safety, health and environment committee

The safety, health and environment (SHE) committee monitors the integrity of the methods used to carry out SHE responsibilities. The committee satisfies itself that SHE policies and strategies are adequate and effective taking into account relevant standards and requirements.

Committee membership

  • Chris Gibb – chair
  • Rob Brighouse
  • Peter Hendy

Audit and risk committee

The audit and risk committee monitors the integrity of the financial reporting and the audit process and monitors internal control systems including risk management, regulation and compliance. The committee makes recommendations to the board on the level of risk appetite acceptable to the company and oversees the process for the identification and management of risk.

The committee has a structured programme of activities including receipt of regular detailed reports on relevant aspects of management, focused to coincide with key events of the annual financial reporting cycle.

Committee membership

  • Sharon Flood – chair
  • Bridget Rosewell
  • Rob Brighouse
  • Silla Maizey

Remuneration committee

The remuneration committee in contrast to most, if not all, listed companies is empowered under the articles of association of Network Rail Limited to determine remuneration for directors, as opposed to making recommendations to the board.

This responsibility reflects the business aim to provide independence of the decision-making process as appropriate for the highest levels of corporate governance and reflects the importance of remuneration and incentive schemes in supporting the delivery of the company’s responsibilities.

Committee membership

  • Michael O’Higgins – chair
  • Richard Brown
  • Sharon Flood
  • Peter Hendy

Nomination committee

The nomination committee reviews the size, structure and composition of the board and committees and makes recommendations to the board on any adjustments deemed necessary and feasible. The committee identifies and nominates candidates for appointment to the board and satisfies itself that appropriate succession planning is in place. The committee reviews and makes recommendations to the board on corporate governance best practice.

Committee membership

  • Bridget Rosewell – chair
  • Richard Brown
  • Peter Hendy
  • Michael O’Higgins

Treasury committee

The treasury committee reviews and satisfies itself as to the appropriateness of proposed treasury transactions including banking, cash management, debt raising and management and investment management.

Committee membership

  • Sharon Flood – chair
  • Bridget Rosewell
  • Rob Brighouse
  • Silla Maizey