NATS-Annual-Report-2015

Annual Report and Accounts 2015 | NATS Holdings Limited
Governance
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Governance report
NATS Governance framework
Introduction
NATS was formed as a Public Private Partnership in July
2001. In addition to its memorandum and articles, a
key element in its governance structure is the Strategic
Partnership Agreement (SPA) between its main
shareholders: the Secretary of State for Transport; The
Airline Group Limited (AG); and LHR Airports Limited (LHRA)
(previously BAA Limited).
The SPA sets out the relative responsibilities of the
signatories and, in particular, requires the group and the
directors to adhere to the UK Corporate Governance Code
so far as reasonably practicable and save to the extent
inconsistent with the other provisions of the SPA.
The Board and directors
Ultimate responsibility for the governance of NATS rests
with the Board of NATS Holdings Limited, which provides
strategic direction and leadership and is responsible for
ensuring that the NATS group is run safely, efficiently,
effectively and legally, with appropriate internal controls to
safeguard shareholders’ investment and group assets.
The boards of the subsidiary companies within the group are
accountable to the NATS Holdings Board for all aspects of
their business activities.
As at the date of approval of the accounts, the NATS
Holdings Limited Board comprised a non-executive
Chairman and 13 directors, as follows:
Executive directors
> Chief Executive Officer and Managing Director,
Operations; and
> Finance Director.
Non-executive directors
> a non-executive Chairman, appointed by AG, subject to
the prior approval of the Crown Shareholder;
> six further non-executive directors appointed by AG,
including the International Air Transport Association
(IATA) representative;
> three non-executive Partnership directors, who are
appointed by the Crown Shareholder; and
> one non-executive director appointed by LHRA.
Changes to the directors
From 1 April 2014 to the date of approval of the accounts,
the following changes to the directors were made:
Chairman
John Devaney Resigned 31 August 2014
Paul Golby Appointed 1 September 2014
Executive director
Richard Deakin Resigned 18 May 2015
Non-executive AG directors
Chris Bennett Resigned 4 March 2015
Harry Bush Appointed 29 May 2014
Warwick Brady Resigned 10 September 2014
Will Facey Appointed 27 November 2014
Mike Powell Resigned 29 May 2014
Martin Rolfe was appointed Chief Executive Officer following
Richard Deakin’s resignation. Martin Rolfe continues to act
as Managing Director, Operations.
Governance