Our Board rigorously challenges strategy, performance, responsibility and accountability to ensure that every decision we make is of the highest quality. In this section you will find information about the Board and Executive Committee Members, the structure and role of our Committees and the areas of focus for the Board.
We continuously evaluate the balance of skills, experience, knowledge and independence of the directors. This includes ensuring that we have the right structure for our globally evolving business. In this section you will find information about the induction and development of our directors, as well as what we believe to be the key considerations for measuring the effectiveness of our Board and Committees.
All of our decisions are considered within the context of the risks involved. Effective Risk Management is central to achieving our strategic objectives, which is embedded in individual responsibility through to oversight from the Committees and Board. In this section you will find information about the responsibility and focus of the Audit, Remuneration, Executive and Disclosure Committees.
RELATIONS WITH STAKEHOLDERS
Maintaining strong relationships with our shareholders and investors is crucial to achieving our aims. We hold events throughout the year to maintain an open dialogue with these important stakeholders. In this section you will find information about how we engage with our shareholders and investors.
ROLE OF THE BOARD AND ITS COMMITTEES
The board provides leadership and guidance to our management, particularly with respect to corporate governance, business strategies and growth plans. It also considers the identification of risks and their mitigation strategies, entry into new businesses, product launches and demand fulfilment and capital expenditure requirements, as well as the review of our business plans and targets.
The Remuneration Committee reviews and recommends to the Board the executive remuneration policy and determines the remuneration packages of the Executive Committee.
The Audit Committee independently reviews the adequacy and effectiveness of risk management across the Group, together with the integrity of the financial statements, including a review of the significant financial reporting judgements contained within them.
The Executive Committee is responsible for the executive management of the business and the strategic direction of the Group. It is also responsible for risk management across the Group, the communication of policy requirements and the review and approval of the risk management policy and framework. The Executive Committee identifies strategic risks, debates strategies and commits the allocation of key resources to manage key and emerging risk factors. Within this role, the Executive Committee defines, sponsors, supports, debates and challenges risk management activity across our Group.
Supports the Board and Audit Committee in reviewing and approving the final form of quarterly and annual announcements or statements relating to the performance of the Group.
OTHER EXAMPLES OF MANAGEMENT COMMITTEES
- Product Committee
- Health & Safety Committee
- Security Committee
- Unusual Events Committee
- Financial Risk and Assurance Committee
CHAIRMAN OF THE BOARD
Responsible for leading the Board, its effectiveness and governance. Setting the agenda to take full account of the issues and concerns of the directors and ensuring the links between the shareholders, Board and management are effective.
CHIEF EXECUTIVE OFFICER
Responsible for the day-to-day leadership, management and control of the Group, for recommending the Group strategy to the Board and ensuring that the strategy and decisions of the Board are implemented.
Constructively challenge the Chief Executive Officer and the ECM and monitor the delivery of the Group strategy within the risk and control environment set by the Board.
CHIEF FINANCIAL OFFICER
Supports the Chief Executive Officer in devising and implementing strategy in relation to the financial and operational performance of the Group.
EXECUTIVE COMMITTEE MEMBERS
Support the Chief Executive Officer in relation to devising and implementing strategy in relation to their specified functional area.