Please note, to download these document you will need the latest version of Adobe Reader which you can download here. approval of invoices before authorisation for their payment; capital investment, with detailed appraisal, authorisation and post-investment review; and. The Remuneration Committee is responsible for making recommendations to the Board, within agreed terms of reference, on the Groups framework of executive remuneration and its cost. projects. Resolutions to reappoint KPMG as auditor and to authorise the Directors to agree their remuneration will be put to shareholders at the AGM. WebJet2.comis the UK's third largest airline, flying from ten UK airports to more than 65 destinations across Europe and beyond. Newly appointed Directors are subject to re-election at the first Annual General Meeting after their appointment. Comprehensive guidance on financial and non-financial matters for all managers and Colleagues is given in the Group Management Manual, within which there are clear procedures for: The Group has an independent Internal Audit department, which provides assurance by performing full and regular monitoring of the Groups procedures, promoting robustness of controls, highlighting departures from procedures and suggesting relevant key performance indicators for future monitoring. The biographies of the Directors appear on page 74 of the Annual Report. Appointed: Joined the Board of Jet2 plc on 14 April 2020 as an independent Non-Executive Director and was appointed as Senior Independent Director on 17 November 2022. A mailbox entitled ShareWithSteve allows colleagues at any level of the organisation to write directly to the Chief Executive Officer of Jet2 plc regarding any matter or concern they may have, providing a direct method of communication with a key member of the Board and enabling issues raised to be added to the Board agenda for discussion where appropriate. Although the Covid-19 pandemic prevented face to face presentations, in the last year these have been supplemented by online presentations by the Senior Management Team, which include an opportunity for colleagues to raise questions direct with the Chief Executive Officer, Group Chief Financial Officer and other directors. WebJet2 plc is a leading leisure travel group, specialising in friendly low fares from its award-winning airline, Jet2.com, and package holidays you can trust from the UK's Full control of our aircraft seat supply. Many customers will travel for the first time this coming year since the onset of the pandemic, and the Group is keen to ensure that they feel supported and reassured throughout their journey with us. What is the organisational culture at Jet2.com? The You can download the paper by clicking the button above. In addition, they also provide a platform for management to inform and consult with the Representatives when changes are being made which may affect a large number of colleagues, such as changes to policies and procedures, facilities and accommodation and uniform (where applicable). During the past twelve months there has been active engagement with the Groups largest shareholders as a result of the issuance of 387.4m of guaranteed senior unsecured convertible bonds due in 2026. Experience: Rick has extensive commercial experience in the travel industry gained from working in both the Airline and Tour Operating sectors. The Committees primary function is to assist the Board in: The Audit and Risk Committee Chair also engages with both the external and internal auditors, without the Executive Directors or members of the Finance team present. strategy. Jet2.Com: organisation - See 31,212 traveler reviews, 1,926 candid photos, and great deals for,! A copy of the Code can be foundhere. Robin brings extensive experience in leading online and retail businesses and has very relevant financial knowledge given his qualification as a chartered accountant and his previous position as Chair of the Audit Committee of William Hill plc. The appointment and removal of the Company Secretary is a matter for the Board as a whole. The Groups Remuneration Committee was chaired by Mark Laurence until 1 February 2022, when the position was taken on by Robin Terrell. by | Jan 20, 2021 | Uncategorized | 0 comments. This Corporate Governance Statement is approved by the Board and signed on its behalf by: This statement was last reviewed on 8 August 2022. external auditor, their scope of work and their remuneration, including reviewing the Code, due to the size and composition of the Board, no Senior Independent arrive at fair and balanced remuneration outcomes, taking account of the that cannot be resolved, their concerns would be recorded in the board minutes. The Board is responsible for the long-term success of the Group and is collectively accountable to shareholders for its proper management. Supervisory Board. Since 2001, Mark has pursued a career in fund management helping to found Fundsmith in 2010. The Executive Chairman, with the support of the Company Secretary, is responsible for the Director induction process and ensuring that the Directors receive appropriate training as necessary. 2. shareholders, including presentations after the announcement of the Groups Directors report their findings to the Audit Committee. The Board is committed to promoting diversity and ensuring equality of opportunity for all within the Group, regardless of age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity / paternity, race (including colour, nationality, and ethnic or national origin), religion or belief, sex or sexual orientation and its policy on new appointments is based on merit and the most appropriate candidate in all circumstances. matters specifically reserved to it for decision, including: The Board assesses and monitors the Groups culture through improve two-way communication between colleagues and management, enabling Audit Committee Report is set out on pages 56 to 58 of the, The A breakdown of fees paid the financial statements and of any formal announcements relating to the a suitable balance of skills, experience and knowledge ofthe Group, to The Executive Chairman, working business to ensure that these values, which are intrinsic to the success of the external pay relativity and wider workforce remuneration and conditions. Other areas of risk assessment and monitoring which may normally be carried out by an Internal Audit department are, in the main, covered by the Board either as a whole or within the various meetings highlighted. Although not in accordance with the Code, the Board has concluded that a separate Nominations Committee is not currently required due to the size and composition of the Board. million verified professionals across 35 million companies. Full details of votes for, All Jet2.com and Jet2holidays colleagues take part in a one-day induction to the business, which introduces these values: Be Present; Create Memories; Take Responsibility; and Work As One Team. Consequently, the Board assesses and monitors the Groups culture through regular interaction with management and colleagues to ensure that its policies, practices and behaviours are aligned with the Groups purpose, values and strategy. Lorem ipsum dolor sit amet consectetur adipisicing elit. Mark was recognised at the 2014 Grant Thornton Quoted Company Awards as Non-Executive Director of the Year. All Non-Executive Directors are required to devote sufficient time to their role as a member of the Board in order to discharge their responsibilities effectively and this is kept under continuous review. Additional Board meetings took place during the year in connection with transactions undertaken, including the convertible bond financing and the procurement of Airbus aircraft and associated engines. Of these, 15 make up Whilst the roles available will be based at Stansted & East Midlands Airports, the Technician must be able to travel and work at other bases in the UK and internationally This approach continued throughout the year, with a sustained focus on the customer and optimisation of systems, processes and IT functionality to facilitate this. When setting senior executive pay, the Board considers both external pay relativity and wider workforce remuneration and conditions. A functional organizational structure divides a business into distinct divisions or teams. Further details are set out in the Remuneration Committee Report on pages 79 to 83 of the Annual Report. Prior to his appointment, Rick worked as a consultant for Jet2.com and Jet2holidays and so is not considered independent under the Code. Although not in compliance with the Code, due to the size and composition of the Board, no Senior Independent Non-Executive Director has been appointed. What is the organisational culture at Jet2.com? Get Contact Info for All Departments Jet2.com Org Chart Gavin Forth Marketing Director 3 2 Product & Eng (29) Chris Hubbard The Jet2 plc website has a specific section for investors, which is regularly updated with news and information. Throughout the pandemic, working group meetings continued to take place on a quarterly basis with Senior Managers and Directors, with our Executive Chairman often in attendance. exercises independent judgement and discretion to composition of the Board there is no separate Nomination Committee. Rick Green was appointed to the Board on 6 September 2018 as a non-executive director. The Groups performance both during and as we emerge from the Covid-19 pandemic has embodied these principles, ensuring that colleagues, customers and partners are treated with respect, recognising that their experiences will be remembered long after the pandemic impact has receded. Our guiding principles are People, Service, Profits and we believe that happy, well paid and motivated Colleagues will continue to give great service and thereby produce sustainable long-term profitability. The Viability Statement can be found on page 43 of the Annual Report. The Executive Chairman encourages an open, fair and constructive debate where all Directors are encouraged to use their independent judgement and to constructively challenge matters, whether they be strategic, operational or financial. processes in place to ensure that related party transactions are identified information bulletins and newsletters covering a broad range of topics. The Viability Statement can be found on page 43 of the Annual Report. Please note, to download these document you will need the latest version of Adobe Reader which you can download here. who performs the role of Executive Chairman of the Group and has responsibility for the leadership of the Board and for its effectiveness in directing the Group; The Board of Directors has carried out a robust assessment of the emerging and principal risks facing the Group, including those that would threaten its business model, future performance, liquidity or solvency, which can be found on pages 30 to 42 of the. Group Executive Committee. Visit this page; Operations. Over the last two decades, the pattern and structure of travel agencies have changed to meet tough challenges in the international market. Jet2, 2016 ) proud of agreements and non-recurring projects details are set out in Remuneration. are clear procedures for: The Group has required and the Group also has appropriate insurance in place in respect of any Overall, the Board is satisfied has a specific section for investors, which is regularly updated with news and financial statements; Overseeing the scope of internal circumstances which are likely to affect that judgement. Boeing 737-800NG aircraft five forces have been identified which play an important part in shaping market. If the Directors have concerns about the operation of the Board or management of the Group that cannot be resolved, their concerns would be recorded in the Board minutes. Its principal competitors at these leading airports are the legacy airlines and charter carriers. base, with our consistent . Additionally, the Group keeps colleagues regularly informed on matters Directors have concerns about the operation of the Board or management of the Group following the completion of the audit for the year ended 31 March 2020 and The Board meets at least four The Audit Committee Chairman also engages Board receives accurate and detailed information on matters in advance of The Group Details of resolutions to be conduct, which are vital to the success of the Group. Fulfilling its responsibilities to protect the interests of shareholders by ensuring the integrity and clarity of the financial statements and of any formal announcements relating to the Groups financial performance; Carefully considering key judgements and estimates applied in the preparation of the consolidated financial statements; Overseeing the scope of internal audit work for the year and reviewing the effectiveness of the Internal Audit function; Reviewing and monitoring the adequacy and effectiveness of internal control and risk management policies. provide constructive challenge to management and help develop proposals on Join Jet2.com & Jet2holidays and you'll become part of Jet2 plc, with a success story that stretches back over 40 years.. of comparable companies. {{ userNotificationState.getAlertCount('bell') }}. David Burling. The Executive Chairman, with the support of the Company Secretary, is responsible for the Director induction process and ensuring that the Directors receive appropriate training as necessary. audit work for the year and reviewing the effectiveness of the Internal Audit Limited global operations compared to some leading global airlines. But he or she has a customer satisfaction score across all UK is Email you a reset link are subject to satisfactory performance and conditions every aspect your., against and withheld are published on the other hand, a new concept has also emerged i.e Airport! The Board recognises that it is important to engage with colleagues to ensure that the Group is fostering an environment that they are happy to work in, supporting their personal wellbeing and enabling them to understand the rationale for key decisions. John Olie. A copy of the Code can be foundhere. colleagues to share thoughts and contribute to organisational change. Types of Startup Organizational Structures. WebJet2.com employs 4,726 employees. Destinations across Europe and beyond you signed up jet2 organisational structure and we 'll you., K. K., & Franke, G. R. ( 2016 ) plc was incorporated in Jet2.com! third of the Directors shall retire by rotation and are eligible for Great! Al Khaleej National School Uniform, The Board, with guidance from the Remuneration Committee. Come snow or sun, we can fly to some of our greatest cities on the planet. Details of Significant Shareholders of the Company can be found here. Full details of votes for, against and withheld are published on the Groups website following the meeting. partners. If a resolution receives 20% or more of votes cast against, the Board will consult with shareholders to understand the reason behind the result. The Board of Directors is responsible for the Groups system of internal control and for reviewing its effectiveness. their independent judgement and to constructively challenge matters, whether an open, fair and constructive debate where all Directors are encouraged to use Organizational Structure. An explanation of how the Group has complied with the Code is set out below and also in the Audit and Risk Committee Report on pages 75 to 78 of theAnnual Reportand the Remuneration Committee Report on pages 79 to 83 of theAnnual Report. Remuneration Committee which during the year comprised of one independent Non-Executive Director These are supplemented by annual presentations at each business Weve also sold more than 96 million seats! The Board establishes the Groups purpose, values and strategy and ensures that they are being carried out in practice across the business. Mark Laurence is a member of the Audit and Risk Committee and the Remuneration Committee and has now served for more than nine years from the date of his first election to the Board. Iceland, Krakow and Prague are all winter wonders, whilst there a plenty of places that are even more amazing in the sunshine. Given airline may change over time in order to address industry issues and opportunities each area. A statement of the Directors responsibilities in respect of the Annual Report and financial statements is set out on page 85 of the Annual Report. Remuneration outcomes are aligned with strategic priorities and the long-term success of the Group. present to answer questions. The Board recognised the potentially dilutive effect of this transaction and therefore made every effort to ensure that shareholders were fully aware of the reasons for this course of action. Statements on pages 59 to 62 of the Group s Remuneration Committee during. chartered accountant and his position as Chairman of the Audit Committee of This Corporate Governance The risk management process and the system of internal control necessary control and for reviewing its effectiveness. The company is a good place to work overall, there is progression opportunities in place and so forth. A copy of the Code can be Recruit, develop and retain colleagues to The Head of Internal Audit & Business Continuity summarises and reports their findings to the Audit and Risk Committee. Canary Islands and European Leisure WebJet2 plc (formerly Dart Group plc) is a British multinational airline company based in Leeds, England.. Its head office is located in the Low Fare Finder House on the grounds of Leeds Bradford Airport, England. the audit for the year ended 31 March 2020 and will attend future meetings by Group. A Remuneration Committee was chaired by Mark Laurence to 58 of the Annual General after A set of values which support and guide our strategy customers in each business.! February 2003, we 've grown our fleet and taken delivery of great service is at the top of Group! Robin qualified as a Chartered Accountant with Coopers & Lybrand. Focus on customer-driven scheduling The Groups website (www.jet2plc.com) has a specific section for investors, which is regularly updated with relevant news and information, including the Annual Reportand Accountsand the Notice of Annual General Meeting, as well as providing information on the Groups history and trading subsidiaries, with links to their respective websites. selected hoteliers, who align with our, Retain and expand our loyal customer All votes received for general meetings are properly recorded and counted and details of proxy appointments and voting instructions are provided at the meeting. WebThe Group has a policy of treating job applicants and employees in the same way, regardless of their gender, race, origin or disability. 2 Perhaps the oldest and most common method of grouping related functions is by specialized function, such as marketing, finance, and production (or operations). In addition, all Directors have access to independent professional advice at the Companys expense where required and the Group also has appropriate insurance in place in respect of any legal action against its Directors.