The role of the Board is to provide entrepreneurial leadership and direction to Ultra in promoting its long term sustainable success, taking into account the interests of all stakeholder groups. The Board is responsible for the approval of the group’s strategy and policies, the oversight of risk, controls and corporate governance, and for setting and monitoring a culture that encourages the Group’s businesses to behave ethically and in line with our values.
The Board sets the Group’s risk appetite and satisfies itself that financial controls and risk management systems are robust, while ensuring the Group is adequately resourced, and actively engages with, and considers the needs of, all relevant stakeholders in Board decisions.
Our Board Composition & Diversity
Our Board of Directors consists of an independent Non-Executive Chairman, four further Independent Non-Executive Directors and two Executive Directors. The Board recognises the value of diversity in its broadest sense and is committed to supporting diversity and inclusion in the boardroom, and throughout the Company as a whole.
Meet our Board of Directors here.
Our key governance themes:
Led by the Chair, the Board is responsible leading Ultra and has overall responsibility for the management and conduct of the business in order to generate long-term value for our stakeholders. The schedule of matters reserved for the Board dictates matters which are expressly reserved for the collective decision of the Board and can be viewed here.
There is a written statement of the division of responsibilities between Chairman and Chief Executive Officer, as well as a summary of the role of the Senior Independent Director and can be viewed here.
Our key governance themes:
The Board provides leadership to the Group and rigorously challenges strategy, performance, responsibility and accountability to ensure that the right decisions are made in the right way and in consideration of the long-term success of the Group.
Directors are appointed on merit, following a rigorous and transparent process. The Board evaluates the balance of skills, experience, knowledge and independence of the Directors through an externally facilitated evaluation process and ensures that all new Directors undertake an induction programme.
Effective risk management is fundamental to achieving the Company’s objectives. Decisions are based on the Board’s appetite for risk.
Relations with shareholders
The Board maintain strong relations with shareholders through events and consultations.
Executive Directors’ remuneration is designed to promote the long-term success of the Company. The Board ensures performance related elements are transparent, stretching and rigorously applied.
The Audit Committee’s role is to oversee the Group’s internal financial controls and risk management systems, to monitor the integrity of all formal reports and announcements relating to the Company's financial performance and to and maintain appropriate relationships with the internal and external auditors of the Group.
Audit Committee: Daniel Shook (Chair), Ken Hunzeker, Geeta Gopalan and Victoria Hull.
The terms of reference for the Audit Committee can be viewed here.
Formulates and recommends to the Board the remuneration police for the Executive Team and the Chair, ensuring alignment with the Company’s long-term strategic goals and having regard to pay and employment conditions across the Company.
Remuneration Committee: Geeta Gopalan (Chair), Ken Hunzeker, Victoria Hull and Daniel Shook.
The terms of reference for the Remuneration Committee can be viewed here.
Reviews the structure, size and composition of the Board and overseas succession planning, including the development of a diverse pipeline of candidates for Directors and senior management positions. Considers nominations, and the process, for appointing new Board members.
Nomination Committee: Tony Rice (Chair), Ken Hunzeker, Geeta Gopalan, Victoria Hull and Daniel Shook.
The terms of reference for the Nomination Committee can be viewed here.
Download our Articles of Association here