|Board leadership and Company purpose||The Company is led by an effective Board, which promotes the long-term success of the Company and engages with its shareholders and stakeholders.|
The Board has established the Company's purpose, values and strategy and is satisfied that these and its culture are aligned.
The Board has established an effective governance and risk framework.
The Board has ensured that the workforce is able to raise any matters of concern, and that all policies and practices are consistent with the Company's values.
|Read more on Stakeholder Engagement in the Corporate Governance Report.Read more on Culture in the Corporate Governance Report.Read more on Principal Risks and Uncertainties.|
|Division and responsibilities||The Chair leads the Board which includes an appropriate combination of Executive Directors and Non-Executive Directors.|
The Non-Executive Directors provide constructive challenge, strategic guidance and advice, and have sufficient time to meet their Board responsibilities.
There is a clear division of responsibilities between the running of the Board and the running of the business, and the Board has identified certain 'reserved matters' that only it can approve. Other matters, responsibilities and authorities have been delegated as appropriate, and there are relevant policies and processes in place for the Board to function effectively and efficiently.
|Read more on Board Composition in the Corporate Governance Report.Read more on Board Responsibilities in the Corporate Governance Report.Read more on Key Board and Committee Responsibilities and Matters Reserved for the Board in the Corporate Governance Report.|
|Composition, succession and evaluation||A comprehensive and tailored induction programme is in place for new Directors joining the Board. The induction programme facilitates their understanding of the Group and the key drivers of the business's performance.|
A rigorous, effective and transparent appointment procedure is in place, which, together with the effective succession plans, promotes diversity of gender, social and ethnic backgrounds, cognitive and personal strengths.
|Read more on Directors' induction, training and development in the Corporate Governance Report.Read more on Diversity and the Group's Diversity Policy in the Nomination Committee Report.|
|Audit, risk and internal control||The Board has established formal and transparent policies and procedures to ensure the independence and effectiveness of both internal and external audit functions, and satisfies itself on the integrity of financial and narrative statements.|
The Board presents a fair, balanced and understandable assessment of the Group's position and prospects.
The Board has established procedures to manage risk, oversee the internal control framework and determine the nature and extent of the principal risks of the Group.
|Read more in the Audit Committee Report.Read more on Risk in the Principal Risks and Uncertainties Report.|
|Remuneration||The Company has designed the remuneration policies and practices to support strategy and promote long-term sustainable success. The Executive remuneration is aligned to the Company's purpose and values and is clearly linked to the successful delivery of our long-term strategy.|
There is a formal and transparent procedure for developing executive remuneration policy and determining director and senior management remuneration.
Directors are able to exercise independent judgement and discretion when authorising remuneration outcomes, taking into account Company and individual performance and wider circumstances.
|Read more on Executive Remuneration in the Remuneration Committee Report.Read more on our Remuneration Policy in the Remuneration Committee Report.Read more on Remuneration in the Remuneration Committee Report.|