Management

Crest Nicholson is a leading residential and mixed-use development company, operating through five regional divisions in the UK. Two further specialist divisions focus on delivering our regeneration projects and long-term strategic land portfolio. The Crest Nicholson Group operates through the Board with day to day executive operation conducted by the Executive Management Team.

Responsibilities and accountability

The Board is responsible for business strategy, risk and oversight of the Executive Management Team. The Executive Management Team has responsibility for the day to day operation of the business, and for developing strategy for the Board's input and approval.

The Board comprises of 5 Non-Executive Directors and 4 Executive Directors.

The Executive Directors who make up the Executive Management Team are responsible for the day to day operation of the Group. The Board of Directors evaluates its own performance with regard to the economic social, and environmental performance of the company.

Management committees

Reporting to the Executive Management Team are the IT, Health, Safety and Environment, HR/Training, Tax/Finance, Benefits/Pension, Risk, Legal, Project Committee, Procurement/Build and Business Improvement Workgroups. The management of operating risks are evaluated and managed by the Executive Management Team including risks relating to health & safety, sustainability & climate change, and is chaired by the Chief Executive. Risk Management oversight is undertaken by the Audit and Risk Committee.

Health, Safety & Environment is reviewed by the Executive Management Team, and is led operationally by the Group Health and Safety executive Director who reports directly to both the Executive Management Team and the Board. The Board Member responsible for Health & Safety is the Chief Executive who represents Health & Safety matters at meetings of the Board and at the Executive Management Team.

The terms of reference of the Operating Business Improvement Workgroups (BIW) are set by the Executive Management Team. These terms of reference require that sustainability is integrated seamlessly across all Crest Nicholson business disciplines and that, to aid this, all BIWs should ensure that company policies and initiatives such as Health & Safety and Sustainability (including risk mitigation and adaptation measures in respect of Climate Change) are implemented and operated.

For more details of how Crest Nicholson develops and maintains strong corporate governance, please see our Annual Integrated Report, at the following pages:

• Our Business Strategy - page 15
• Internal Control - page 64
• Relationships with Shareholders and Lenders - page 90
• Risks and Uncertainties - page 43
• Board of Directors - page 52
• Governance - page 49
• Board Committees - page 58