Corporate Governance
The Board acknowledges the importance of the principles set out in the Combined Code. Although the Combined Code is not compulsory for AIM companies, the Directors intend to apply the principles as far as practicable given the Company’s size and propose to follow, where practicable, the recommendations on corporate governance of the Quoted Company Alliance. The Company gives no warranty as to strict compliance with the Combined Code; however, the Board has established the following mechanisms and committees:
Audit Committee
The audit committee for the Company comprises Mr John Jost and Mr Ron Aitkenhead who are both Non-executive Directors. The audit committee is responsible for providing formal and transparent arrangements for considering how to apply suitable financial reporting and internal control principles having regard to good corporate governance and maintaining an appropriate relationship with the company’s auditors.
Nomination Committee
The Board nomination committee comprises of Executive Chairman Mr Jeff Chatfield and Non-executive Directors Mr Seah Kian Peng and Mr Ron Aitkenhead. The nomination committee is responsible for reviewing the size and composition of the Board, preparing a description of the role and capabilities required for a particular appointment and Nomination candidates to fill Board positions as and when they arise.
Remuneration Committee
The remuneration committee comprises Non-executive Directors Mr John Jost and Mr Ron Aitkenhead. The remuneration committee is responsible for establishing a formal and transparent procedure for developing policy on executive remuneration and to set the remuneration packages of individual senior employees of Skywest Airlines Ltd and makes recommendations to shareholders concerning Directors’ remuneration. This process includes agreeing with the Board the framework for the remuneration of the Executive Chairman, all other Executive Directors and Non-executive Directors and such other members of the executive management of Skywest Airlines Ltd as it is designated to consider. It is furthermore responsible for determining the total individual remuneration packages of each Director including, where appropriate, bonuses, incentive payments and share options.
Service contracts
All Directors have entered into service contracts which require not more than 12 months’ notice of termination.
Share dealing code
The Company has adopted and is operating a share dealing code for Directors and senior executives and takes proper steps to ensure compliance of the AIM Rules on share dealing by the Directors and those employees.
Communications Policy
To ensure timely first-hand information exchange between the Company, its shareholders and the public, the Company has adopted a Communications Policy.
Skywest Airlines Ltd - Communications Policy
Click here to download (PDF, 60kb)
This website of Skywest Airlines Ltd is updated as at 8 January 2010 and is published in compliance with Rule 26 of the AIM Rules for Companies.