The board views corporate governance as fundamental to Cairn's business performance and is therefore committed to ensuring that high standards of corporate governance are maintained.
View our most recent detailed corporate governance report in the 2010 Annual Report and Accounts
Board Composition
The Board currently comprises a non-executive Chairman, the Chief Executive Officer, two executive directors and five independent non-executive directors. All of the executive directors have extensive experience and knowledge of the oil and gas industry. Together, the non-executive directors bring a broad range of business, commercial and financial experience to the board. In addition to this, all of the five independent non-executive directors have experience of the industry.
Chairman and Chief Executive
There is a clear separation of the roles of Sir Bill Gammell, Chairman and Simon Thomson, Chief Executive Officer, to ensure an appropriate balance of responsibility and accountability. The division of responsibilities has been clearly established, set out in writing and agreed by the Board.
The Chairman is responsible for the effective running of the board, ensuring that the board plays a full and constructive part in the determination and development of the Group's strategy and acting as guardian and facilitator of the board's decision making process.
The Chief Executive Officer is responsible for managing the Group's business, proposing and developing the Group's strategy and overall commercial objectives in consultation with the board and, as leader of the executive team, implementing the decisions of the board and its committees.
Board Committees
The main board committees are the Audit Committee, Remuneration Committee and Nomination Committee. The membership and terms of reference of each these committees can be viewed using the links below.
Further information on each of the Board Committees can be found in the Corporate Governance Statement in the 2010 Annual Report and Accounts.