Following a review of the Company’s systems and controls in the wake of the October 2016 profit warning, oversight and management of risk and governance was transferred to a newly constituted Executive Committee (the ‘ExComm’) in order to enhance them further. This ExComm consists of the Chief Executive, the Chief Financial Officer, the Heads of the three Business Divisions, the General Counsel and Company Secretary, the Chief Human Resources Officer and the Chief Risk and Governance Officer. The ExComm is chaired by the Chief Executive. It reviews and approves all major transactions and material commitments by the Group. Meetings are held on a monthly basis, supplemented by weekly ad-hoc meetings for approvals as required. Outcomes and decisions from all meetings are minuted and distributed for implementation as required and reported to the Board.

More information can be found in the Corporate Governance Report in the Laird PLC 2016 Annual Report.