The Board is committed to ensuring that corporate governance is an integral part of our organisation. It is key to how we interact with our investors, employees, suppliers and other stakeholders.
The Board has reviewed the Company’s performance against the UK Corporate Governance Code (the Code) and has concluded that the Company complied with the Code throughout the 2016/17 financial year. As part of our annual corporate governance review, the Board also considered the new provisions contained within the 2016 Corporate Governance Code, which applies to the Company with effect from the 2017/18 financial year. I am pleased to confirm that we already comply with these new provisions.
Richard Baker, Chairman
BOARD OF DIRECTORS
There are 11 members of the Board including the Chairman, Chief Executive and Senior
Independent Director. The composition of the Board and the biographical details of each of the directors can be found here
The Board is responsible for the long–term success of the Company and ensures that there are effective controls in place which enable risk to be assessed and managed. All Board members have responsibility for strategy, performance, risk and people.
The Chairman and Chief Executive have clearly defined roles and responsibilities which are separate and distinct:
- Leadership and effective operation of the board
- Effective dialogue between the Board and shareholders
- Day to day operation of the business
- Optimising the performance of the company to create shareholder value by delivering profitable growth and a good return on capital
The Board is supported by three committees; the Audit Committee, the Nomination Committee and the Remuneration Committee. Their terms of reference are reviewed annually and updated in line with best practice.