The Board is currently comprised of the Executive Chairman, two executive directors and four non-executive directors.

Executive directors are not required to submit themselves for re-election, apart from at their first Annual General Meeting. Their election is covered by Articles 87 and 94 of the Company’s Articles of Association.

Non-executive directors are not appointed for specific terms and their election is covered by Article 87 of the Company’s Articles of Association. Non-excutive directors are required to submit themsleves for re-election by rotation and their re-election is covered by Article 98 of the Company’s Articles of Association. One third of non-executive directors retire by rotation each year.

Audit and Remuneration Committees

Both the Audit and Remuneration Committees comprise all the non-executive directors, with Mr Anthony Quirke as the Chairman.

The Audit Committee meets not less than twice each year. It is primarily responsible for monitoring the effectiveness of the Group’s Internal Control Systems and Procedures and for reviewing that the financial statements properly reflect the financial performance of the Group, together with any others areas as defined by the board.

The Remuneration Committee meets when required. It is responsible for determining the remuneration of executive directors including their basic salaries and other terms of their remuneration packages.

Charles H. Gallagher (56) M.A., MSc.

A Director of Abbey plc since 1986, Mr. Charles Gallagher was appointed Executive Chairman in May 1993. He is a past president of the H.B.F. (UK House Builders Federation). Mr. Gallagher is also a director of a number of other companies including Gallagher Holdings Limited, Matthew Homes Limited and Charles Wilson Engineers Limited.

Lorenzo G. Fraquelli (58) (British) BSc (Civil Eng)

Mr. Fraquelli joined the Abbey Group in January 2007 and is Managing Director of Abbey Developments Limited. He was co-opted to the Abbey plc Board in November 2009. He holds no other directorships other than those within Abbey plc and its subsidiaries.

Nick J Collins (47) (British) B.A. HONS, ACA

Mr Collins joined the Abbey Group in 1998 and is Managing Director of Kingscroft Developments Limited. He was co-opted to the Abbey plc Board in December 2015. He holds no other significant directorships other than those within Abbey plc and its subsidiaries.

David A. Gallagher • ∆ (55) B.A., MSc. (Non-Executive)

Mr. Gallagher was appointed to the Abbey plc Board in May 1993. Mr. Gallagher is a director of a number of other companies including Gallagher Holdings Limited, Matthew Homes Limited and Charles Wilson Engineers Limited.

Robert N. Kennedy • ∆ (62) (British) BSc (Econ)

Mr. Kennedy joined the Abbey Group in 1996 and was Managing Director of M&J Engineers Limited until April 2014. He was co-opted to the Abbey plc Board in December 1997. He holds no other directorships other than those within Abbey plc and its subsidiaries.

Michael A. McNulty • ∆ (70) FCA, F Inst D, AITI (Non-Executive)

Mr. McNulty was appointed a non-executive director of the Group in December 2011. He is a former Senior Audit Partner of Ernst & Young in Ireland, together with being the previous head of their Corporate Finance Division. Mr McNulty previously served as a non-executive director on such companies as University College Dublin Foundation Limited, Irish Payments Services Organisation Limited, An Post Limited, Temple Bar Properties Limited, StayinFront Limited and he is a former Chairman of The Pensions Board of Ireland.

(•) Member of Audit Committee
(∆) Member of Remuneration Committee

Anthony G. Quirke • ∆ (61) B.A. HONS, MCSI (Non-Executive)

Mr Quirke was appointed a non-executive director of the Group in December 2014. He is a Corporate Sales Director at finnCap and was formerly an Equity Sales Director at Arden Partners and Sales Director at Investec before that. He holds no other directorships other than those within Abbey plc and its subsidiaries.

(•) Member of Audit Committee
(∆) Member of Remuneration Committee