Corporate Governance

Members

Our mutual membership is at the top of the corporate governance structure.

An Annual General Meeting of the Members is normally held in November each year to receive our annual report and accounts and to attend to other matters such as the appointment and remuneration of Directors and Auditors.

Further General Meetings are held where required to obtain Members approval in accordance with the requirements of our constitutional documents and applicable Company law.

Members Board

The Members Board provides a forum for Members to play an enhanced role in the governance of North. It has separate committees to consider matters relating to the P&I Class and FD&D Class and an Elections Committee which considers appointments to the Members Board.

Meetings are held three times per year at which Board members receive reports from, and consult with, the Directors upon a wide range of matters affecting North. The Members Board also has powers to determine discretionary matters arising in relation to Members claims under our Rules.

Terms of reference for the Members Board and its Committees are available by clicking here.

Details of the current Members Board representatives are available by clicking here.

Board of Directors

The Board of Directors is collectively responsible for the long-term success of North, setting our strategic aims and ensuring that our obligations to Members and others are understood and met.

As part of their duties, the Directors must ensure that we comply with all applicable legal and regulatory requirements and that our risk profile is adequately and effectively managed.

We have three general categories of Director:

  • Member Directors - appointed on a non-executive basis to represent the Club's shipowner Members
  • Executive Directors - appointed to represent the executive management of the Club.
  • Independent Directors - appointed to provide additional specialist non executive expertise in relation to key governance functions.

The Directors terms of reference are available by clicking here.

Details of the current Directors are available by clicking here.