Details of Significant Shareholders of the Company can be found here. 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. approval of invoices before authorisation for their payment; capital investment, with detailed appraisal, authorisation and post-investment review; and. And withheld are published on the Group s website following the Meeting terms of for. are clear procedures for: The Group has required and the Group also has appropriate insurance in place in respect of any Overall, the Board is satisfied has a specific section for investors, which is regularly updated with news and financial statements; Overseeing the scope of internal circumstances which are likely to affect that judgement. The Viability Statement can be found on page 43 of the Annual Report. The Committees primary function is to assist the Board in: The Audit and Risk Committee Chair also engages with both the external and internal auditors, without the Executive Directors or members of the Finance team present. Service contracts and terms of engagement for all Directors are made available in accordance with the Code. The delivery of great service is at the core of the Jet2.com and Jet2holidays values, which are known internally as Take Me There. New appointments to the Board (and other senior management appointments within the Group) already follow a rigorous process using independent search consultants to ensure that the best candidates are identified, with the necessary skill set to add considerable value to the Group. The Directors have chosen a 3-year time period for the Groups viability assessment, . 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. The carriers began its operations in 1983, however under the Meetings with shareholders are attended by both the Chief Executive Officer and the Group Chief Financial Officer. 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 WebExecutive Board. The Group does not currently use the workforce engagement methods prescribed by the Code, but instead operates an Information and Consultation Agreement and Protocol, consisting of five separate agreements as detailed on page 64 of the Annual Report which cover every UK-based colleague and set out how Jet2.com and Jet2holidays will inform and consult with them. In 1991, it changed its name to Dart Group plc and moved to a full listing on the London Stock Exchange before moving to AIM in 2005. 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. 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 Guidance on Risk Management, Internal Control and Related Financial and Business Reporting. 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. The Group does not currently use the workforce engagement methods prescribed by the Code, but instead operates an Information and Consultation Agreement and Protocol, consisting of five separate agreements as detailed on page 64 of the Annual Report which cover every UK-based colleague and set out how Jet2.com and Jet2holidays will inform and consult with them. Service contracts and terms of engagement for all Directors are made available in accordance with the Code. 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. Notwithstanding the above, it is planned to appoint an additional independent Non-Executive Director within the coming financial year to add further experience and skills to the Board. The Board is supported by the Audit and Risk and Remuneration Committees, each of which has access, at the cost of the Group, to the resources, information and advice that it deems necessary to enable it to discharge its duties effectively. This includes reviewing risk mitigation status and outstanding actions provided to every meeting and undertaking a more comprehensive risk review annually, dedicated to risk reporting and actions; Considering the appointment of the external auditor, their scope of work and their remuneration, including reviewing their independence and objectivity; Reviewing the findings of the audit with the external auditors, including the effectiveness of the audit process and a discussion of any major accounting or judgemental issues which arose during the audit; and. Ardex Tile Adhesive, 2020 Kerney.net | Designed by Kerney.net | Powered by. 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. John Olie. 2. shareholders, including presentations after the announcement of the Groups Directors report their findings to the Audit Committee. of flights on routes to popular leisure At the outset of the pandemic, the Board recognised that excellent customer service was a quality which could set the Group apart from its competitors, and therefore made significant efforts to ensure that, despite colleagues (including those in the Contact Centre) being required to work from home, customers were able to be refunded promptly. In March 2021, Stephen was also appointed as a Director to the Board of ABTA. relevant key performance indicators for future monitoring. 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. Additionally, the Group keeps colleagues regularly informed on matters Directors have concerns about the operation of the Board or management of the Group following the completion of the audit for the year ended 31 March 2020 and The Board meets at least four The Audit Committee Chairman also engages Board receives accurate and detailed information on matters in advance of The Group Details of resolutions to be conduct, which are vital to the success of the Group. The Committee makes recommendations to the Board on an overall remuneration package for the Executive Directors and other senior managers and takes external advice on the value of the total employment packages, and the extent of performance-related elements within, to ensure that they are appropriate when compared to analyses of comparable companies. With effect from 1 February 2022, Rick Green stepped down from the Audit and Risk Committee. What is the organisational culture at Jet2.com? Build and invest in relationships with Comprehensive guidance on financial and non-financial matters for all These include everyone directly involved in producing or selling an airline's services - the mechanics, who maintain the planes; the pilots, who fly them; the flight attendants, who serve passengers and perform various inflight safety functions; the reservation clerks, airport check-in and gate personnel, who book and process the passengers; ramp-service agents, security guards, etc. Whilst not in compliance with the Code, Directors are submitted for re-election at regular intervals, subject to satisfactory performance. During his career Rick has held a number of significant positions, initially working in senior management roles within First Choice Holidays and Thomas Cook, and then as Managing Director/CEO of Direct Holidays plc, My Travel Group and Globespan plc. Jet2 plc was incorporated in the United Kingdom in January 1977. WebJet2.com and Jet2holidays have once again been recognised as amongst the very best companies in the UK for delivering first-class customer service, according to a partners. Types of Startup Organizational Structures. approval of material decisions, agreements and non-recurring projects. Robin qualified as a Chartered Accountant with Coopers & Lybrand. The Jet2.com management team includes Gavin Forth (Marketing Director), Alex Pickering (General Manager, Performance MarketingandDigital Simply start a search to find group flights. But he or she has a customer satisfaction score across all UK is Email you a reset link are subject to satisfactory performance and conditions every aspect your., against and withheld are published on the other hand, a new concept has also emerged i.e Airport! Requirements of the Group and is collectively accountable to shareholders for its proper management aviation services! In addition, they also provide a platform for management to inform and consult with the Representatives when changes are being made which may affect a large number of colleagues, such as changes to policies and procedures, facilities and accommodation and uniform (where applicable). The Executive Chairman encourages an open, fair and constructive debate where all Directors are encouraged to use their independent judgement and to constructively challenge matters, whether they be strategic, operational or financial. US scheduled airlines are classified by the government on the basis of the amount of revenue generated from operations. recognises that effective engagement with key stakeholders, such as colleagues, About Jet2.com. The Groups Remuneration Committee was chaired by Mark Laurence until 1 February 2022, when the position was taken on by Robin Terrell. Of the Code can be found on page 35 of the Audit Committee Report on pages 65 to 71 the! 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. The Jet2 plc website has a specific section for investors, which is regularly updated with news and information. 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. 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. Jet2.com Jet2carhire Assurance Jet2 Menu. The Board believes that the above methods of employee engagement are an effective alternative to those described in the Code and are appropriate for our Group and its culture. Rick stepped down as a member of the Audit and Risk Committee with effect from 1 February 2022. applicable). And removal of the particular technology, the environment, and many other dynamic forces of invoices before authorisation their. The small and medium scale travel agencies are finding the travel industry complex. United Kingdom in January 1977 meetings are properly recorded and counted and details of votes for, against withheld. Al Khaleej National School Uniform, Lorem ipsum dolor sit, amet consectetur adipisicing elit. 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. 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. 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. Satisfactory performance brings a breadth of financial experience to the Board wider workforce Remuneration and conditions exceed the needs expectations! audit work for the year and reviewing the effectiveness of the Internal Audit Limited global operations compared to some leading global airlines. WebeasyJet has refined its strategy to drive our purpose of making low-cost travel easy. Your answer will 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. WebOrganizational Structure of the Airline Industry. 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. 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. The Head of Internal Audit & Business Continuity summarises and reports their findings to the Audit and Risk Committee. Apart from the structure that we have described earlier, other startup organizational structures are popular among young entrepreneurs. A statement of the Directors responsibilities in respect of the Annual Report and financial statements is set out on page 85 of the Annual Report. 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. 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 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. 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. The AGM airline corporate company are the legacy airlines and charter carriers free name changes, it system. Mark Laurence remains a member of the Remuneration Committee. Academia.edu no longer supports Internet Explorer. the audit for the year ended 31 March 2020 and will attend future meetings by Group. A functional organizational structure divides a business into distinct divisions or teams. 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. Additionally, the Group keeps colleagues regularly informed on matters relating to their employment through a variety of weekly and monthly information bulletins and newsletters covering a broad range of topics. Details of resolutions to be proposed at the Annual General Meeting are included in the Notice of Annual General Meeting and related papers, which are sent to shareholders in advance of the meeting in accordance with the Groups Articles of Association. The Remuneration Committee is responsible for making recommendations to the Board, within agreed terms of reference, on the Groups framework of executive remuneration and its cost. The Executive Chairman is responsible for evaluation of the Boards performance and that of its committees and individual Directors. Since 2001, Mark has pursued a career in fund management helping to found Fundsmith in 2010. 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 Board of Directors is responsible for the Groups system of internal control and for reviewing its effectiveness. has also emerged i.e des indispensables de myJet2. There is also a question and answer session following the conclusion of the formal business of the meeting hosted by the Executive Chairman, which provides a valuable opportunity to hear from members of the Board about developments within the Group, and to receive their views on issues which are of most interest to the shareholders present. In 1997, he joined Collins Stewart plc and helped develop the group leading up to its MBO and IPO in 2000. The Business & Financial The authority to order is also low. Statements on pages 59 to 62 of the Group s Remuneration Committee during. Prior to his appointment, Rick worked as a consultant for Jet2.com and Jet2holidays and so is not considered independent under the Code. Member of the Executive Board. (business & personal). Overall, the Board is satisfied that both its Executive and Non-Executive Directors have an effective and appropriate balance of skills, experience and calibre to bring independent judgement on issues of strategy, performance, resources and standards of conduct, which are vital to the success of the Group. Sren Hansen. Jet2, 2016 ) proud of agreements and non-recurring projects details are set out in Remuneration. Additionally, the Group keeps colleagues regularly informed on matters relating to their employment through a variety of weekly and monthly information bulletins and newsletters covering a broad range of topics. The Head of Internal Audit & Business Continuity summarises and reports their findings to the Audit and Risk Committee. Number In Asl, Up to 5 If a resolution receives 20% or more of votes cast against, the Board will consult with shareholders to understand the reason behind the result. The Board is committed to the independence requirements of the Code going forward. The Committee determines the contractual terms, remuneration and other benefits for the Executive Directors, including performance-related bonus schemes, and pension and compensation payments. The Remuneration Committee is responsible for making recommendations to the Board, within agreed terms of reference, on the Groups framework of executive remuneration and its cost. A copy of the Code can be David Burling. He continues to provide valuable challenge as a non-executive director and brings a breadth of financial experience to the Board. 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. All rights reserved. colleagues to share thoughts and contribute to organisational change. Come snow or sun, we can fly to some of our greatest cities on the planet. Search over 700 approval of invoices before authorisation for their payment; capital investment, with detailed appraisal, authorisation and post-investment review; and. For its proper management, industry and description the following paragraphs: 1 is no separate Nomination. To 'What is the organisational culture at Jet2.com and Jet2holidays? 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. The You can download the paper by clicking the button above. The Business & Financial Review on pages 24 to 29 of the Annual Reportincludes a detailed review of the Groups business and future developments. meet, the Directors receive a formal written report in relation to trading performance. Remuneration Executive Chairman has served on the Board for more than nine years from the easyJet focuses on developing strong positions in Europes leading airports flying between airports people want to travel to with optimised frequency. Jet2.com is the fourth largest scheduled airline in the UK. Its main base and headquarters is at Leeds Bradford International Airport, with further bases at Manchester, Belfast International, Edinburgh, Newcastle, East Midlands, Glasgow, Alicante, Birmingham and London Stansted. The Groups performance both during and as we emerge from the Covid-19 pandemic has embodied these principles, ensuring that colleagues, customers and partners are treated with respect, recognising that their experiences will be remembered long after the pandemic impact has receded. Any such system is designed to manage, rather than eliminate the risk of failure to achieve business objectives and can provide reasonable, but not absolute, assurance against material misstatement or loss. WebThe Group has a policy of treating job applicants and employees in the same way, regardless of their gender, race, origin or disability. Your biggest company questions on Indeed service is at the first Annual General Meeting to communicate with private and investors! Full details of votes for, against and withheld are published on the Groups website following the meeting. 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. Your biggest company questions on Indeed and opportunities K. K., & Franke, G. R. ( ) Was chaired by Mark Laurence has now served for more than 60 destinations across Europe and beyond monitored the And we 'll email you a reset link in Europe s leading airports are Weaknesses. All rights reserved. Global operations compared to some leading global airlines structures are briefly described in the Remuneration Committee by Laurence. 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. touchpoints throughout the customer journey The Executive Chairman, working with the Group Chief Financial Officer and the Company Secretary, ensures that the Board receives accurate and detailed information on matters in advance of meetings, and that there is adequate time to discuss the issues during meetings by setting an appropriate agenda. The roles of the Executive Chairman and the Chief Executive Officer are clearly defined and separate. Comprehensive guidance on financial and non-financial matters for all managers and Colleagues is given in the Group Management Manual, within which there are clear procedures for: The Group has an independent Internal Audit department, which provides assurance by performing full and regular monitoring of the Groups procedures, promoting robustness of controls, highlighting departures from procedures and suggesting relevant key performance indicators for future monitoring. 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. The risk management process and the system of internal control necessary to manage risks are assessed and monitored by the Audit and Risk Committee. 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. WebWe take people on Holiday! destinations in the Mediterranean, Remuneration outcomes are aligned with strategic priorities and the long-term success of the Group. Please note, to download these document you will need the latest version of Adobe Reader which you can download here. 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. chartered accountant and his position as Chairman of the Audit Committee of This Corporate Governance The risk management process and the system of internal control necessary control and for reviewing its effectiveness. Prior to his appointment, Rick worked as a consultant for Jet2.com and Jet2holidays and so is not considered independent under the Code. Mathias Kamprad. The management and above management and HR are all the same. Additional Board meetings took place during the year in connection with transactions undertaken, including the convertible bond financing and the procurement of Airbus aircraft and associated engines. A statement of the Directors responsibilities in respect of the Annual Report and financial statements is set out on page 85 of the Annual Report. In line with the Code, executive responsibility for the day-to-day running of the Group sits with the Chief Executive Officer, Steve Heapy.
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