The Members’ Council and the Board are supported by committees that are made up of members from the Board and the Council, and some committees have representation from the MCPS Board. The committees meet throughout the year and operate according to terms of reference and mandates that have been approved either by the Board for committees which report to the Board or the Council for those committees which report to the Council.
Committees reporting to the Council
The Audit Committee is charged with overseeing matters including the company’s finances and financial controls, the integrity of financial statements, internal and external audit processes and findings, accounting policies and judgements, and management’s processes for identifying and controlling risks.
The Nomination Committee advises the Members’ Council in respect of the appointment of the Chief Executive, appointment of and succession planning for independent non-executive directors to the Council and Board, appointment of writer and publisher Council members to the Board and appointment of the Chair of the Board.
The Committee advises the Board in respect of succession plans for the Chief Executive and senior management.
The Remuneration Committee advises the Members’ Council in respect of the remuneration package of the CEO, iNEDs and Council Members.
The Committee advises the Board in respect of the remuneration strategy for senior management and executive reward and incentive programmes and policies. Senior management roles are defined as those both reporting to the Chief Executive and forming part of the senior management team of the Company.
The Committee also oversees the overall remuneration of any other employee earning a base salary of £150,000 or more per annum.
Committees reporting to the Board
The Licensing Committee reviews and directs overall licensing strategy and policy.
The work of the Committee is informed by the Audit Services Advisory Group (ASAG), Commercial Advisory Group (CAG) and Production Music Advisory Group (PMAG).