The Board is responsible for the leadership and direction of the Group and is ultimately responsible to the Company’s shareholders for the Group’s long-term success.
The Board takes the lead in areas such as strategy, financial policy and making sure we maintain a sound system of internal control. By delegating authority to its Committees, the Board directs and reviews the Group’s operations within an agreed framework of controls, allowing risk to be assessed and managed within agreed parameters.
For more information about the key features of our governance structure and how we have applied the principles of the UK Corporate Governance Code (2018) during the latest financial year, head to our Governance Report as published in our latest Annual Reports and Accounts, which sets out in greater detail how the principles and provisions of the Code have been applied and how the Board and its Committees have fulfilled their responsibilities to ensure high levels of governance are in place across the Group.
Roles and responsibilities
The Board is responsible for the leadership and direction of the Group, establishing the Company’s purpose, values and strategy, whilst representing the interests of all material stakeholders. By delegating authority to its Committees, the Board directs and reviews the Group’s operations within an agreed framework of controls, allowing risk to be assessed and managed within defined parameters.
The Board delegates the responsibility for implementing the Group’s business model and day-to-day operational management of the Group to the Chief Executive Officer, supported by the Chief Financial Officer (CFO), the Chief Operating Officer (COO) and the senior management team. The Board has direct access to the Company Secretary, who is responsible to the Board for ensuring that Board procedures are complied with and that the Board has full and timely access to relevant information.
The Board has delegated specific responsibilities to its Committees to assist it in successfully performing its duties. The Committees discuss and propose matters to the Board to allow it to make reasoned decisions and if required, appropriate actions.