The Board is responsible for the management, direction and performance of the business.
Led by the Chief Executive, the Board comprises the Finance Director, the Legal Director and Divisional Managing Directors. The Board has wide and extensive industry experience with individuals having diverse backgrounds but complementary skills.
The Board meets six times per annum and is accountable to its shareholders for the proper conduct of the Group. In addition, there is a holding company board of The Miller Homes Group (UK) Limited which meets four times per annum.
The principal responsibilities of the Board include financial management and controls, strategic planning, risk, management and setting cultural tone. In addition, the Board is responsible for identifying and evaluating significant risks to the business. A rigorous evaluation process is undertaken annually and reviewed at each Board meeting.
The Group’s corporate governance framework is supplemented by additional board committees held as part of the holding company board structures.
Corporate Approval Committee
The Corporate Approval Committee has delegated authority to approve certain land acquisitions, contracts, investments and capital expenditure over defined limits. The committee comprises the Chief Executive, Finance Director and a member of the holding company board.
The Remuneration Committee meets three times per annum. Recommendations are made to the holding company board on all aspects of the remuneration, benefits and employment conditions of the Board.
The Audit Committee considers and makes the recommendations regarding the integrity of the financial statements of the Group; the effectiveness of internal controls and risk management and the internal and external audit process. The committee meets three times per annum.