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The Board sets the Group’s strategy and ensures 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. It is accountable to shareholders for the creation and delivery of strong, sustainable financial performance and long-term shareholder value. To achieve this, the Board directs and monitors the Group’s affairs within a framework of controls which enable risk to be assessed and managed effectively. This is done through clear procedures, lines of responsibility and delegated authorities. The Board also sets the Group’s core values and standards of business conduct and ensures that these, together with the Group’s obligations to its stakeholders, are widely understood throughout the Group.
The Board currently comprises a Chairman, Chief Executive Officer, four other Executive Directors and six independent non-executive Directors. Read the biographical details of the Board members.
The Directors are of the view that the Board and its Committees consist of Directors with an appropriate balance of skills, experience, independence and diversity of background to enable them to discharge their duties and responsibilities effectively.
The composition of the Board did not change during the course of 2013, except for the appointment of Jeremy Wilson as a non-executive Director with effect from 21 October 2013.