The Company’s Board of Directors is committed to high standards of corporate governance, which it considers are critical to business integrity and to maintaining investors’ trust. The Company expects all its directors and employees to act with honesty, integrity and fairness. The Company strives to act in accordance with the laws and customs of the countries in which it operates; adopts proper standards of business practice and procedure; operates with integrity; and observes and respects the culture of every country in which it does business.
The Board recognises that the objective of the UK Corporate Governance Code (the “Code”) is to facilitate management’s delivery of business success in a transparent and responsible manner. The Code does not impose a rigid set of rules and recognises that certain actions and behaviours do not automatically imply poor organisational governance. The Company has either complied or explained any areas on non-compliance with all the detailed provisions laid down in the Code.
The Board has nominated André Lacroix as its Senior Independent Director.
The Board structure adopted by the Company is similar to that of its key international competitor companies, most of whom are US-based. The current Board comprises eleven directors, nine of whom are non-executive. Adrian Bellamy, Chairman of the Board, has served more than nine years on the Board but was independent on appointment as Chairman.
Pam Kirby is chair of the Corporate Responsibility, Sustainability, Ethics and Compliance Committee, established in 2016. André Lacroix and Judith Sprieser are currently the Chairs of the Audit and Remuneration Committees respectively. Whilst Judith Sprieser and Kenneth Hydon have both served for more than nine years, the Company continues to benefit from the skills and experience they bring to their roles. It is important that the Board retains relevant knowledge and experience to provide continuity and consistency in the development and application of the Company’s strategic objectives and the continued delivery of shareholder value.
The Board has established a Nomination Committee, a Remuneration Committee, a Corporate Responsibility, Sustainability, Ethics and Compliance Committee and an Audit Committee. Copies of the terms of reference for these committees are available in PDF format below.
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T +44 (0) 1753 217800