Corporate Governance

The Board remains focused on strong corporate governance and effective risk management. The Board is accountable to shareholders for sustainable financial performance and long-term shareholder value. It meets these aims by approving the Group’s strategy and ensuring that the necessary resources are in place to achieve the agreed strategic aims and objectives. It determines the Company’s key policies and reviews management and financial performance.

The Board operates within a framework of controls and these clear procedures, lines of responsibility and delegated authorities allow risk to be assessed and managed effectively. These are underpinned by the Board’s work to set the Group’s core values and standards of business conduct and ensure that these, together with the Group’s obligations to its stakeholders, are widely understood across all its activities.

Board composition

The Board currently comprises a Chairman, Chief Executive Officer, two other Executive Directors and five independent non-executive Directors. Together, they bring a broad range of business, commercial and other relevant experience. The Board are of the view that there is an appropriate balance of skills, experience, independence and diversity of background amongst the members to carry out duties and responsibilities effectively.

Board committees

The Board has established the following principal Committees, each of which has written terms of reference (approved by the Board) setting out its authority and duties:

• Audit Committee
• Nominations Committee
• Remuneration Committee
• EHS Committee  
• Ethics and Compliance Committee

Visit Board Committees page