Rotana Corporate Sustainability Report 2014

24 Committees We have four Corporate Committees that overlook the functioning of the company’s operation and the sustainability. These committees are Executive, Ethics, Audit and Sustainability. All committees act in accordance with a formal charter approved by the Board of Directors. Whenever needed, the committees are empowered to acquire the consulting resources and expertise deemed necessary to perform their responsibilities such as retention policy and programme, restructuring of the organisation, compensation alignment and others. Specialised independent consultants are carefully selected. 1: Executive committee The Executive Committee consists of three directors appointed by the board and exercise all the powers of the board of directors in the management of the business and affairs of the company. It acts as the remuneration and compensation committee and directly involve the board of directors members. The executive committee engage directly with different stakeholders including owners, guests, colleagues and regulatory bodies. The members meets frequently and as when needed in order to ensure the response and implementation of matters delegated to the committee by the board of directors in accordance with the company’s authority‘s matrix. 2: Audit committee The audit committee is responsible for oversight of the financial reporting process, selection of the independent auditor, and receipt of audit results both internal and external. The committee assists the board of directors fulfill its corporate governance and oversees responsibilities in relation to the company’s financial reporting, internal control system, risk management system and internal and external audit functions. It also provides advice and recommendations to the board within the scope of its terms of charter. The audit committee meets twice a year and receives regular updates from the internal and external third part auditors. 3: Corporate sustainability committee The Corporate Sustainability Committee function is to oversee the sustainability programmes, including: • Providing key decisions on sustainable initiatives/programmes • Circulating information, programmes and policies to our hotels • Ensuring a high level of supervision of the hotels relevant department’s sustainable direction and performance • Evaluating the progress made and the challenges faced during the implementation • Reviewing and approving sustainable goals, policies and procedures It consists of the Corporate Vice Presidents from Engineering, Marketing, Human Resources, Information Technology, Materials, Food and Beverage, Housekeeping, Director of Environment Health and Safety and the Chief Operating Officer. The members meet every quarter. Since its establishment in 2012, the committee members have met 15 times to set policies, agree on group KPIs, analyse progress and issue guideline to support the hotels achieving their KPIs. There are a total of 38 EHS Managers or EHS Officers to implement Rotana Corporate Sustainability Committee action plans. Each hotel’s EHS Manager or/and EHS officer chairs and works closely with the hotel EHS Sustainability Committee and report directly to the Hotel’s General Manager and to the corporate EHS Director in the head office. If required, issues related to sustainability are channeled from hotels EHS team and/or General Managers to the Corporate Director of EHS/ Sustainability, to the company Chief Operating Officer and Chief Executive Officer and consequently to the Board. 4: Ethics committee The Corporate Ethics Committee’s objective is mainly to look after the rights and interests of Department Heads and colleagues reporting directly to the General Managers of properties concerned and the company ethic framework in general. It consists of the following members: • Chief Operating Officer • Chief Financial Officer • Corporate Vice President – Human Resources The Hotel Ethics Committee’s objective is to look into complaints on unethical practices, primarily dedicated to the rights and interest of all our colleagues. It consists of the following members: • General Manager • Head of Finance • Head of Human Resources Neutral Department Head, to be elected as ‘contra part’ based on members 1 – 3 (male/female ratio, nationality mix, etc.) The committees ensure the following while handling any issues related to the company’s code of business conduct and ethics: • Response time • Facts finding • Proper forum • Investigation • Transparency and objectivity • Independency Serious decisions are made as warranted in accordance with the company’s policy and procedures. All decisions are disclosed and communicated transparently, following the company’s process and with notice period when applicable.