Rotana Corporate Sustainability Report 2017

Rotana Corporate Sustainability Report 2017 20 COMMITTEES Four Corporate Committees provide oversight of Rotana’s operation and sustainability. These Committees are executive, ethics, sustainability and audit. All committees act in accordance with a formal charter approved by the Board of Directors. Whenever needed, the Committees are empowered to retain 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 consultants are carefully selected to ensure we receive proper and independent expert advice. 1: Executive Committee The Executive Committee comprises three directors appointed by the board and exercises all the powers of the Board of Directors (BOD) in the management of the business and affairs of the company. It acts as the remuneration and compensation committee and directly involves the BOD’s members. The executive committee engage directly with different stakeholders including owners, guests, colleagues and regulatory bodies. The members meet frequently and as required in order to ensure the response and implementation of matters delegated to the committee by the BOD in accordance with the company’s authority matrix. 3: Corporate Sustainability Committee The Corporate Sustainability Committee comprises 8 Corporate Vice Presidents, the Corporate EHS Director and the Chief Operating Officer. It oversees the sustainability programmes, including: • Providing key decisions on sustainable initiatives/ programmes • Circulating information, programmes and policies to all hotels • Ensuring a high level of supervision of the hotels’ relevant department’s sustainability direction and performance and taking action to address them • Evaluating the progress made and the challenges faced during implementation • Reviewing and approving sustainability goals, policies and procedures • Setting methodologies for consulting with stakeholders on economic, environmental and social issues through surveys, questionnaire, meetings, roundtables and workshops The members meet every 6 months. 2: Ethics Committee The Corporate Ethics Committee’s comprises the Chief Operating Officer, Chief Financial Officer and Corporate Vice President – Human Resources. It looks after the rights and interests of Department Heads and colleagues reporting directly to the General Managers of properties concerned and the company ethics framework in general. The hotel Ethics Committee’s comprises the General Manager, Head of Finance and Head of Human Resources. Members are elected as ‘contra part’ based on 1 – 3 (male/ female ratio, nationality mix, etc.) It looks into complaints on unethical practices, primarily dedicated to the rights and interest of all our colleagues. 4: Audit Committee The Audit Committee assists the BOD in fulfilling 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. It is responsible for oversight of the financial reporting process, selection of the independent auditor, and receipt of audit results both internal and external. The Audit Committee meets twice a year and receives regular updates from the internal and external third part auditors. Critical concerns are communicated by the Corporate Vice President to the Executive Committee which then takes it to the BOD.