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.
Nomination and Remuneration Committee
Following the approval at this year’s AGM of the proposed governance changes, the Nomination and Remuneration Committee will be divided into two committees in due course.
The Nomination Committee will advise the Council on the appointment of our CEO and senior management, succession planning, appointment of independent non-executive directors and appointment of Council members to the Board.
The Remuneration Committee will oversee all aspects of our CEO and senior management’s pay and rewards.
The Committee also oversees the overall pay and rewards of any other employee earning a base salary of £150,000 or more a year.
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).