23 11 Senior Executives The Board delegates the responsibility for the day-to-day management of the Company to the Managing Director, who is assisted by the senior executives who report to him. The diagram below sets out details of the senior executives reporting directly to the Managing Director. Managing Director Christopher Rex French Operations Pascal Roché UK Operations Mark Page Group Chief Operating Officer Craig McNally Asian Operations Bronte Kumm Group Finance Director Bruce Soden Corporate & Commercial Operations Paul Fitzmaurice Australian Operations Danny Sims Chief of Staff Carmel Monaghan The Managing Director must consult with the Chairman or Deputy Chairman on any matters which the Managing Director considers are of such a sensitive, extraordinary or strategic nature as to warrant the attention of the Board, regardless of value. The authorisation thresholds for the control of expenditure and capital commitments by the Managing Director and senior executives are established and defined in the Company’s Statement of Delegated Authorities, which is regularly reviewed and updated as required to optimise the function and decision making of the executive as the Company continues to grow and expand geographically, whilst maintaining appropriate oversight by the Board. Subject to these policy limits and the directions of the Board or Audit Committee, the Managing Director may sub-delegate the day-to-day running of the Company to the senior executive team. 12 Performance of Senior Executives Other than in respect of Mr Rex, the terms of employment of each senior executive are not formalised in a written employment or services agreement. The Company considers that the unique working environment and culture developed over many years, principally founded on The Ramsay Way and exemplified through the longevity and low turnover of the Company’s executive team, is such that written agreements with senior executives are unnecessary at this time. However, each executive’s position description and the combination of financial and non-financial key performance indicators (KPIs) used to monitor senior executive performance are recorded in writing. Details of the KPIs used for the Managing Director in FY2015 and examples of the KPIs for other senior executives are set out in the FY2015 Remuneration Report. The Managing Director’s performance is formally assessed on an annual basis. The Managing Director’s KPIs are reviewed and set annually by the Board on the basis of recommendations made by the Remuneration Committee at the commencement of the financial year. The Remuneration Committee carefully evaluates the Managing Director’s performance against those KPIs and makes recommendations to the Board for final decision. An annual assessment of the performance of all other senior executives is undertaken by the Board on the basis of recommendations by the Managing Director, who conducts performance reviews in relation to each senior executive. A performance evaluation for all senior executives, including the Managing Director, was undertaken in the reporting period in accordance with the process disclosed above.
2015 Ramsay Health Care Limited Annual Report
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