Board of Directors

HIAL's Board of Directors is responsible for determining the business strategy of the company, taking into account the Scottish Ministers' expressed policy to encourage economic and social development in the Highlands and Islands.

The Board is composed of six members appointed by the Scottish Ministers. The six members are the non-executive Chairman, the Managing Director and four non-executive Directors. The Scottish Ministers are represented by an Assessor at Board meetings in a non-voting capacity.

The Board meets on a six weekly cycle and operates a policy of requiring all significant matters to be referred to it for approval unless they are specifically within the delegated limits given to the Managing Director.

Capital projects in excess of £1 million require both Board and Scottish Government approval.

The Directors operate under their formal adoption in March 2004 of the HIAL Board Members Code of Conduct, which is derived from the Model Code produced by the Standards Commission of Scotland, together with recognition of other published corporate governance guidelines.

The Board deals with issues of risk and internal control on an ongoing basis. In particular, it reviews safety, financial performance including variances from budget, commercial and marketing information and objectives, acquisitions and disposals as necessary, environmental and regulatory issues, business planning and strategies. The management team, led by the Managing Director, monitors financial performance by a system of monthly financial reporting and review together with forward projections.