Board Committees Update

RNS Number : 5010A

Wizz Air Holdings PLC

02 June 2021

 

BOARD COMMITTEES UPDATE

Ticker:  WIZZ

Geneva, 2 June 2021: Wizz Air Holdings Plc ("Wizz Air"), today announces the new composition of Board committees. With the growing business complexity throughout the Company and the need to ensure proper Board oversight of key areas of focus, Board announces a new Board committees' structure, a new membership and chairperson structure.

The new structure will evenly distribute areas of responsibility between four main committees: Nomination and Governance Committee, Audit and Risk Committee, Remuneration Committee and Sustainability and Culture Committee. The creation of Sustainability and Culture Committee will allow the Board to dedicate a separate committee to ESG and culture with an appointed member responsible for employee engagement, including engagement with the Wizz Air People Council. 

The four committees will be structured as described below.

Nomination and Governance Committee

Chair: William Franke

Members: Simon Duffy and Barry Eccleston

Observer: Charlotte Andsager

Responsibilities: i) nomination of directors, ii) nomination of executive management (officers), iii) governance structures and processes and iv) key Company strategies.

Audit and Risk Committee

Chair: Simon Duffy

Members: Enrique Dupuy de Lome Chavarri, Maria Kyriacou, Charlotte Pedersen

Observers: Stephen Johnson, Andrew Broderick

Responsibilities: i) external audit, ii) internal audit, iii) financial reporting, iv) risk management and v) cyber security.

Remuneration Committee

Chair: Barry Eccleston

Members: Charlotte Andsager and Enrique Dupuy de Lome Chavarri

Observer: Stephen Johnson

Responsibilities: i) executive director compensation, ii) executive compensation (officers) and iii) remuneration schemes and policies.

Sustainability and Culture Committee

Chair: Charlotte Pedersen

Members: Anthony Radev (also as Non-Executive Director Overseeing Engagement with Employees) and Andrew Broderick

Responsibilities: i) sustainability strategy and reporting, ii) employee relations and iii) employee diversity.

Mr. William Franke, Chairman of the Board, commented: 'the new structure and addition of Sustainability and Culture Committee is needed to keep up with growing business complexity. It was also an opportunity to take a fresh look at the experiences, skill sets and capabilities of our board members and allocate them to serve the Company's and shareholders' best interests. These will be the key areas of the focus and will enable the Board to have a complete oversight, as the business transitions into its next phase of growth."

ABOUT WIZZ AIR

Wizz Air, the fastest growing European low-cost airline, operates a fleet of 140 Airbus A320 and A321 aircraft. A team of dedicated aviation professionals delivers superior service and very low fares, making Wizz Air the preferred choice of 10.2 million passengers in the financial year F21 ending 31 March 2021. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. The company was recently named one of the world's top ten safest airlines by airlineratings.com, the world's only safety and product rating agency, and 2020 Airline of the Year by ATW, the most coveted honour an airline or individual can receive, recognizing individuals and organizations that have distinguished themselves through outstanding performance, innovation, and superior service.

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For more information:
Investors:	Zlatko Custovic, Wizz Air	[phone]
Media:	Sanja Pavel, Wizz Air: Edward Bridges / Jonathan Neilan, FTI Consulting LLP:	[phone] [phone]

 

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