The Board is accountable to the Company’s shareholders for ensuring the sound management and long-term success of the Group. This can only be achieved if the Board is supported by appropriate governance processes to ensure that the Group is managed responsibly and with integrity, fairness, transparency and accountability.
The Board is firmly committed to the highest standards of corporate governance and the Board takes collective responsibility for the overall management and performance of the Company.
The role of the Executive Chairman and Chief Executive
The roles of the Chairman and the Chief Executive are separately held, with the division of responsibilities clearly defined, set out in writing and agreed by the Board. The Executive Chairman leads the Board and is responsible for its overall effectiveness in directing the Company. The Chief Executive is responsible for all executive management matters of the Group within the authority delegated by the Board and for the implementation of Board strategy.
The role of the Senior Independent Director
The purpose of this role is to provide a sounding board for the Executive Chairman and to act as an intermediary for the other directors. In addition, to be available to shareholders if they have any matters of concern that contact through the normal channels of the Executive Chair or Chief Executive has failed to resolve.
The Board has established four committees, to which it has delegated certain responsibilities. These are the Audit, Nomination and Remuneration Committees. Each committee operates under its own terms of reference, which have been tailored to support the Board in fulfilling its responsibilities and allow more detailed reviews in particular areas when required. Read about our governance practices by downloading the Committee Term of References.
The latest statement can be found in the Annual Report