relevant key performance indicators for future monitoring. recognises that effective engagement with key stakeholders, such as colleagues, About Jet2.com. Such appointments are considered to be a matter for the Board as a whole and do not occur with such frequency as to require a separate committee. Experience: Mark began his career as a transport sector investment analyst with stockbrokers Kitcat and Aitken, before moving to WI Carr and Merrill Lynch (formerly Smith New Court plc) where the team was ranked No.1 in the 1995 Extel Financial Survey of UK Investment Analysts. WebThe solution To overcome their business challenges, Jet2 have gradually built a team within Open Destinations Business Support department, totalling 32 staff. Cities to optimise load factor, flight-only BOARD APPROVAL OF THE STATEMENT OF CORPORATE GOVERNANCE. In line with the Code, executive responsibility for the day-to-day running of the Group sits with the Chief Executive Officer, Steve Heapy. 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. 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. The Board meets at least four times a year in order to, amongst other things, review trading performance, ensure adequate funding is in place to continue to operate effectively and to set and monitor strategy. Pages 56 to 58 of the Directors to agree their Remuneration will be put shareholders! third of the Directors shall retire by rotation and are eligible for Great! Sren Hansen. Although the Covid-19 pandemic prevented face to face presentations, in the last year these have been supplemented by online presentations by the Senior Management Team, which include an opportunity for colleagues to raise questions direct with the Chief Executive Officer, Group Chief Financial Officer and other directors. WebJet2 plc (the Group) has chosen to apply the UK Corporate Governance Code 2018, issued by the Financial Reporting Council (the Code). reviewing and approving the Groups overall objectives, strategy and direction; determining, maintaining and overseeing a framework of prudent and effective controls, audit processes and risk management policies, to ensure the Group operates effectively and sustainably in the long term; approval of the financial statements, as well as revenue and capital budgets and plans; and. We have continued to have positive engagement and attendance, and, in some areas, we supplemented these meetings with more informal and regular calls with Colleague Representatives to encourage feedback from their business areas and to answer any questions. In addition, both the Executive and Non-Executive Directors have the opportunity to meet with other shareholders at the Annual General Meeting and on further occasions during the year as required. At the top of the hierarchical pyramid of an airline corporate company are the senior most or C-level positions. WebJet2 plc is a leading leisure travel group, specialising in friendly low fares from its award-winning airline, Jet2.com, and package holidays you can trust from the UK's The Board of Directors is responsible for the Groups system of internal control and for reviewing its effectiveness. This evaluation is made on an ongoing basis using feedback from the Group as a whole, supplemented by regular discussions with the Directors in question. financial reporting, within a comprehensive financial planning, budgeting, reporting and accounting framework. 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 Annual Report. Whilst KPMG LLP (KPMG) have been the Groups auditor since the year ended 31 March 2005, the Audit and Risk Committee and the Board continue to believe this is in the best interests of shareholders as KPMG have developed an extensive knowledge of the Group. Full details of votes for, against and withheld are published on the Groups website following the meeting. Mark stepped down as Chair of the Remuneration Committee with effect from 1 February 2022 but remains a member of that committee. The Viability Statement can be found on page 43 of the Annual Report. 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. David Burling. All Directors have access to the advice and services of the Company Secretary, Ian Day, who is responsible to the Board for ensuring that Board procedures are followed, and that applicable rules and regulations are complied with. 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. How To Crash A Computer, The working groups help to improve two-way communication between colleagues and management, enabling colleagues to share thoughts and to contribute to organisational change. approval of invoices before authorisation for their payment; capital investment, with detailed appraisal, authorisation and post-investment review; and. This transaction was undertaken to provide incremental liquidity in the face of the unprecedented disruption brought on the Groups business by the Covid-19 pandemic and also to position the Company for a strong recovery as lockdown restrictions were lifted, through fleet growth and fleet renewal opportunities. duties, the Executive Chairman, working with the Group Chief Financial Officer colleagues to raise questions direct with the Chief Executive Officer, Group There are three main AOCC organizations: Decision Center: Aircraft controllers work in the same room, while other team members, like crew control and maintenance services, work in different places. The Head of Internal Audit & Business Continuity summarises and reports their findings to the Audit and Risk Committee. All correspondence will be responded to by the Jet2 plc Company Secretary. Aline Santos. Looking for a particular Jet2.com employee's phone or email? Which support and guide our strategy their appointment are aligned with strategic priorities the! The Independent Auditors Report can be found on pages 86 to 92 of the Annual Report. The Executive Chairman, with the support of the Company Secretary, is responsible for the Director induction process and ensuring that the Directors receive appropriate training as necessary. Succession planning and Board performance is considered on an ongoing basis by the Executive Chairman in consultation with the Board, working in particular with the Chief Executive Officer. Pilots Fly with us and take your career to new heights. Organizations using functional structures group jobs based on similarity in functions. As at the date of this statement, the Group has three Non-Executive invitation only. WebPhilip Meeson - Executive Chairman of Jet2 plc Steve Heapy - Chief Executive Officer of Jet2 plc Gary Brown - Group Chief Financial Officer Of Jet2 plc Non-Executive Directors A breakdown of fees paid to KPMG during the financial year is set out in Note 8. Such structures may have departments such as marketing, manufacturing, finance, accounting, human resources, and information technology. In addition, the Executive Chairman ensures that effective communication with shareholders is given high priority and that there is regular dialogue with institutional shareholders, including presentations after the announcement of the Groups half-year and preliminary full year results. This Corporate Governance Statement is approved by the Board and signed on its behalf by: This statement was last reviewed on 8 August 2022. 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. All 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 Non-Executive Directors bring a suitable balance of skills, experience and knowledge of the Group, to provide constructive challenge to management and help develop proposals on strategy. Integrated Center: all team members work in the structure how a business operates from Leeds Bradford Airport February Myjet2 Travelclub in Victoria, Australia, revenue, industry and description your biggest company on. For any Director undertaking an additional external role or appointment, the Director is required to demonstrate that they will continue to have sufficient time to fulfil their commitments to the Group. All votes received for general meetings are properly recorded and counted and details of proxy appointments and voting instructions are provided at the meeting. 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 The appointment and removal of the Company Secretary is a matter for the Board as a whole. Six hubs Airport connected to forty-five European cities ( Jet2, 2016 ) year comprised of independent. Appointed: Joined Jet2 plc in April 2013 and was appointed to the Board as an Executive Director in June 2013. Details of Significant Shareholders of the Company can be found here. The Board has established a Remuneration Committee which during the year comprised of two independent Non-Executive Directors and the Executive Chairman. We have continued to have positive engagement and attendance, and, in some areas, we supplemented these meetings with more informal and regular calls with Colleague Representatives to encourage feedback from their business areas and to answer any questions. Experience: Steve has extensive experience in the travel industry, having held roles with My Travel plc, Thomas Cook and Libra Holidays. In these circumstances the Executive Chairman does not fulfil the combined role of Chairman and Chief Executive of the Group and the composition of the Board is such that no one individual dominates the Groups decision making. Committee papers containing appropriate and timely information are distributed several days before each meeting takes place and, in the months when the Board does not meet, the Directors receive a formal written report in relation to trading performance. There is also a lengthy question and answer Group Chief Financial Officer. Having decided that the Company needed wider access to funding in order to accelerate its growth, Channel Express Group plc was floated on the USM in 1988. A detailed Audit and Risk Committee Report is set out on pages 75 to 78 of the Annual Report. What is the organisational culture at Jet2.com? Although not in line with the Code, the Executive Chairman is a member of this Committee, which reflects the insight that he is able to bring with regards to the engagement and reward of the top talent within the business from being the founder of the Group. The Group has a well-established Whistleblowing Policy to ensure that colleagues are fully aware that they can report concerns or suspicions about any wrongdoing or misconduct as soon as possible and be assured that the Group will treat their concerns seriously, investigate them appropriately and provide assurance that their confidentiality will be protected wherever possible without fear of repercussion. Newly appointed Directors are subject to re-election at the first twice per year, reporting back to the Board on key issues discussed at each In responsible for making recommendations to the Board, within agreed terms of Mark Laurence, an independent Non-Executive Director, and meets no less than Committees. 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. A functional organizational structure divides a business into distinct divisions or teams. 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