Audit Committee
The Audit Committee is principally responsible for reviewing, and reporting to the Board on the Group’s financial reporting, maintaining an appropriate relationship with the Group’s Auditor and monitoring the internal financial control systems. All members are considered independent by the Company having no day-to-day involvement with the Company.
Nominations Committee
The Nominations Committee is principally responsible for ensuring our Board and its Committees have the correct balance of skills, knowledge and experience and ensuring adequate succession plans are in place. All members are considered independent by the Company having no day-to-day involvement with the Company.
Remuneration Committee
The Remuneration Committee is principally responsible for establishing the Group’s Remuneration Policy and ensuring there is a clear link between our performance and the remuneration we pay. All members are considered independent by the Company having no day-to-day involvement with the Company.
S.430(2B) Statement
The information set out below is provided in accordance with section 430(2B) of the Companies Act 2006. It will remain on the Company’s website until the 2026 Annual Report (containing the 2026 Directors’ Remuneration Report) is published.
Paul Williams informed the Board of his intention to retire as Chief Executive and Director of Derwent London plc on 22 January 2026. As at 1 September 2026, Paul Williams stepped down from the Board following the appointment of Jonathan Murphy as his successor.
Fixed pay
Paul will remain a full-time employee and will continue to receive his salary, benefits and pension until 21 January 2027. Paul will not receive any payments for loss of office.
Annual bonus
Paul will be eligible for a bonus for the year ended 31 December 2026 but will not be entitled to a bonus for the year ending 2027. Details will be included in the 2026 Directors’ Remuneration Report.
Outstanding deferred bonus awards and performance share awards
Paul will be treated as a good leaver in respect of his outstanding deferred bonus awards (which will vest at the normal time) and his outstanding performance share awards, which will be capable of vesting at the normal time subject to performance. Any amounts that vest will be subject to a holding period which ends on 1 September 2028.
No long-term incentive award was granted to Paul in 2026.
Sharesave options
Paul continues to hold his outstanding Sharesave options which mature in November 2026.
Shareholding guidelines
Paul is required to hold shares following his retirement from the Board in accordance with the Group’s post-employment shareholding.
Responsible Business Committee
The Responsible Business Committee is principally responsible for monitoring the Group’s corporate responsibility, sustainability and stakeholder engagement activities. The Responsible Business Committee is composed of two independent Non-Executive Directors, an Executive Director and four workforce-nominated employees.
Risk Committee
The Risk Committee is principally responsible for reviewing and monitoring the Group’s key risks and the effectiveness of the risk management systems and non-financial internal controls. All members are considered independent by the Company having no day-to-day involvement with the Company.