URENCO’s policy on corporate governance is to meet with principles of good governance, transparent reporting and the Company’s core Values. The Company has established and practises a system of full transparency with regular comprehensive reporting to the Board and provision of extensive background information for all matters requiring Board approval. All decisions of the Board are clearly minuted and recorded in a fully accessible manner.
Additionally, regular meetings of the Audit Committee, Remuneration and Appointments Committee and, where required, special working groups, permit Board representatives together with external advisors as appropriate to consider in further detail issues of particular complexity. URENCO’s commitment to good corporate governance ensures clear strategic direction for the Group and enables the effective assessment, control and management of risk.
URENCO’s Board manages overall control of the Group’s affairs and is responsible to the Shareholders for company policies and strategic direction.
The Audit Committee’s primary responsibilities include monitoring the financial statements of the Group, monitoring systems of internal control, compliance and risk management.
The role of the Remuneration and Appointments Committee remains to ensure that the Chair of the Board and executive positions are occupied by high calibre individuals who are fully able to meet the requirements of the role. Furthermore the committee is responsible for the remuneration arrangements for the Chair of the Board and for the Executive Directors, in order to offer every encouragement to enhance the Company’s performance and deliver our strategy in a responsible manner.
The purpose of the Sustainability Committee is to monitor, on behalf of the Board, the implementation of URENCO's core values and sustainability agenda.
URENCO was founded in 1970 following the signing of the Treaty of Almelo.