Risk management

The delivery of improvements in controls and operational risk management, including health, safety and environment initiatives, is driven by the Laird Risk Management Committee (“RMC”), chaired by the President of one of Laird's business divisions and with senior representatives of both divisions and key corporate functions.  Risk management strategy, risk performance monitoring and oversight at corporate level rests with the Laird Risk Management Group (“RMG”), to which the RMC reports.  The RMG is chaired by the Laird PLC Chief Executive and reports to the Board. The RMG meets at least twice a year whereas, following development of risk procedures, the RMC now meets at least every two months, reflecting its emphasis on risk monitoring and oversight role.

The Director of Risk Management and Internal Audit and the President of Laird Technologies are members of both the RMC and RMG.

Further details on the RMC and RMG are set out in the Directors' report in the 2011 Annual Report (pages 30-36).