Our Directors

Peter L Hay : Chairman
Peter Hay was appointed to the Board in 1977. He was Group Technical Director and then Group Managing Director, before being elected as Chairman in 1993.

Victor P Bellanti : Chief Executive
Victor Bellanti joined Norman Hay plc in 1993 as Finance Director and was appointed Chief Executive in March 2000. He graduated from Nottingham Trent University in 1979 with a degree in Business Studies and qualified as Management Accountant in 1981.

Anthony M Hay : Non-Executive Director
Anthony Hay was appointed to the Board as Sales & Marketing Director in 1963 and served as Chairman from 1984 to 1993.  As a Non-Executive Director he is independent from the day to day running of the Group.

David W Miller : Non-Executive Director
David Miller was Chief Operating Officer up until his retirement in December 2006. He was employed by Norman Hay plc for seven years, following a successful international executive career. In February 2007 David rejoined the company as Non-Executive Director.

Brigid M Cattle : Company Secretary
Brigid Cattle was appointed Company Secretary of Norman Hay plc in September 2000. Previously she was the Human Resources Director of Ultraseal International, which was acquired by the Group in 1998.

 

Directors' Responsibilities

Anthony Hay chairs the Audit Committee and the Remuneration Committee.

Audit Committee

The Audit Committee is chaired by Anthony Hay and its other members are David Miller, Peter Hay and Victor Bellanti. The Committee operates within agreed terms of reference which include reviewing the effectiveness of financial reporting and internal control procedures, monitoring the integrity of the financial statements of the Group and any significant financial reporting judgements contained therein and reviewing the fees, independence and objectivity of the external auditors.

Remuneration Committee

The Remuneration Committee is chaired by Anthony Hay and its other members are David Miller, Peter Hay and Victor Bellanti. The Remuneration Committee reviews and determines the remuneration package of the Executive Directors of the Group Board. This includes the determination of targets for any performance related pay schemes, or other share option schemes operated by the Group. The remuneration policy set by the Remuneration Committee is designed to deliver the Group's objective of increasing shareholder value by attracting and retaining the most capable and committed people. In doing so the Committee reserves the right to seek professional advice from external consultants as it sees fit.

The Directors are responsible for preparing the Annual Report and the Financial Statements in accordance with applicable law and International Reporting Standards, International Accounting Standards and interpretations (collectively IFRS), as adopted by the European Union.

Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Group and the Company and of the profit or loss for that year. In preparing those financial statements, the Directors are required to:

• select suitable accounting policies and then apply them consistently;
• make judgments and estimates that are reasonable and prudent;
• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
• prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Group and Company will continue in business.

The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the Group and taking reasonable steps for the prevention and detection of fraud and other irregularities.