The Board's role is to provide leadership of the Company, and it is responsible to the shareholders for the long term success of the Company.
Our corporate governance framework is appropriate for a company of our size and FTSE 250 status. A continued focus on ensuring accountability, transparency and fairness in our dealings with all of our stakeholders, in particular our shareholders, customers, employees, suppliers and our environmental impact, balanced with the need to support the delivery of the Group’s strategic objectives will ensure we are well positioned to continue to develop our business.
Our governance activities comply fully with the provisions and principles of the 2018 UK Code of Corporate Governance and further details can be found in the Corporate Governance Report of our Annual Report for the year ended 31 December 2021.
The Board is collectively responsible for the long-term success of the Group and for ensuring leadership within a framework of effective controls. The key roles of the Board are::
- setting the strategic direction of the Group, including consideration of strategic acquisitions;
- overseeing implementation of the strategy by ensuring that the Group is suitably resourced to achieve its strategic aspirations;
- encouraging entrepreneurial leadership by providing a framework of prudent and effective controls which enables risk to be assessed and managed;
- ensuring that the necessary financial and human resources are in place for the Group to meet its objectives;
- overseeing returns to shareholders and monitoring the share price; and setting and monitoring the Group’s culture, supported by its values, and ensuring alignment with the Company’s purpose and strategy.
All matters are reserved for the Board unless specifically listed in the terms of reference for one of the Committees of the Board (which are available for viewing here) or where the Board has delegated authority to senior executive management.