Ronaldsway Aircraft Company applies the highest standards of corporate governance in line with the policy of the RLC Group. It has an independent board of directors to which the executive reports.
The role of the board
The Board is responsible for creating the framework within which the company operates. It challenges and supports the strategic direction of the company, ensures the necessary resources are available and sets controls and standards. It also monitors performance and approves budgets, material investments and commitments. The Board ensures that there is effective corporate governance throughout the company that is consistent with the RLC Group.
The Board delegates responsibility to the executive management for the compny’s performance in order to ensure that the business is managed in a fit and proper manner in keeping with its values and principles. There are formally defined lines of responsibility and clear limits on the authority devolved to the company’s executive to make financial commitments and other strategic decisions.
The non-executive directors bring a wide range of experience to the Board and participate fully in key decisions facing the company. The board currently has two non-executive directors:-
Sarah is a law graduate from Cambridge University. She trained at Norton Rose, one of the leading City law firms, now Norton Rose Fulbright, where she was appointed the first woman partner.
She specialised firstly in shipping and then aviation finance, and played a key role in building the aviation finance practice. She then worked as a consultant in aviation finance while writing a book on Sir James Martin, the pioneer of the aircraft ejection seat, before joining the RLC Engineering Group, of which she is now Chairman. She has been Chairman for 12 years.
She is a Fellow of the Royal Aeronautical Society and has been a member of its Council and Strategic Review Board. She is on the Court of the Coachmakers and Coach Harness Makers City Livery Company.
Nigel has a degree in Applied Sciences and a post graduate Fellowship in Manufacturing Management from Cranfield University. In his early career he had a number of operations P/A and general management roles for several international OEMs.
In recent years he has held a wide range of Managing Director/CEO appointments across many different industries. He has significant international experience having not only led businesses with a focus on exporting but also having run businesses in several different countries.
Nigel was appointed as the Managing Director of Ronaldsway Aircraft Company in April 2015 and was invited to join the board in May 2016.
Chairman of Mylchreests Holdings Limited, one of the Isle of Man’s longest established Motor Businesses, and a Director of a number of a number of other IOM companies.
A Director of RLC Engineering Group Limited.
I have been a Fellow of the Institute of the Motor Industry since 1988.
Stuart joined RLC in December 2015 and is a vastly experienced Company Secretary having held senior positions in both public company and private equity.
His industry background is primarily manufacturing in the automotive and aviation industry operating in global markets. Stuart is a qualified Chartered Secretary and has specific responsibility for governance & risk management.