The World Gold Council is governed by our Board of Directors, which meets four times per year and comprises representatives from our members and our Chief Executive Officer. In most cases members are represented by the Chairman or the CEO of their respective companies. The Board represents the whole of the World Gold Council membership. The election of Directors by members and associates is governed by our Articles of Association.
The Board has established two committees: an Audit Committee, and a Remuneration Committee.
The Audit Committee’s role is to assist the Board in meeting its responsibilities in the areas of financial systems and control, reporting and ethical standards, and in overseeing the processes by which we identify, measure and manage risk. The Committee comprises the Chairman and at least two other Directors. The Committee operates under terms of reference determined by the Board and meets on a regular basis.
The Remuneration Committee, which operates under terms of reference determined by the Board, comprises the Chairman and at least two other Directors. The Chief Executive Officer and the Operations Director attend all the Remuneration Committee meetings, however no director plays a part in any discussion about their own remuneration.