The Directors of OPG remain committed to promoting high standards of corporate governance and, whilst not obliged to comply with UK Corporate Governance Code (‘the Code’), the Board aims to do so in way that is appropriate to the size and complexity of the business.
The Board meets at least four times a year. Board papers include matters relating to strategy including both new and expansionary capital items, operating budgets and monthly management accounts. Non-Executive Directors have access to all information and, if required by them, external advice at the expense of the Group.
The Board presently comprises:
- Arvind Gupta (Executive Chairman)
- Mr Dmitri Tsvetkov ( Chief Financial Officer)
- Mr.Jeremy Warner Allen (Non-Executive Deputy Chairman)
- Michael Grasby
- Ravi Gupta
- Jeremy Beeton
Mr T Chandramoulee is OPG’s Chief Operating Officer, a non-board position. He is responsible for the day-to-day running of the operations of the Company whilst Mr Arvind Gupta retains responsibility for the overall business, matters related to strategic direction and for running the Board.
In the Board’s view, this composition ensures an appropriately clear division of responsibilities between the running of the Board and the executive responsibility for the running of the Company’s business.
The Audit Committee is primarily responsible for ensuring that the financial performance of the Group is properly monitored and reported. It scrutinises the half year and full year financial announcements before their approval by the Board.
The Audit Committee currently consists of Mr. Michael Grasby and Mr. Ravi Gupta. The CEO and Chief Financial Officer attend meetings by invitation.
The Remuneration Committee is primarily responsible for reviewing the performance of the Group's Executive Directors and senior management, and setting their remuneration and other terms of employment. The Remuneration Committee is also responsible for the creation and administration of share option schemes.
The Remuneration Committee currently consists of Mr. Michael Grasby and Mr. Ravi Gupta. Mr. Ravi Gupta is not present when any remuneration matter relating to the CEO, his brother Mr. Arvind Gupta, is discussed.