Investors - Corporate Governance

Corporate Governance

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The Board is firmly committed to the highest standards of corporate governance and considers that good governance commences with an effective Board providing strong and respected leadership.

The Non-Executive Directors bring their wide experience to the boardroom to both support and develop business strategy and operations and to constructively challenge the Executive Directors.

In addition, the Board evaluation process which we introduced in 2002 supports the culture of constructive challenge and confirms that Non-Executive Directors are independent in their judgement.

During the year to 31 December 2013 as detailed in the Remuneration report on page 53 of the Annual Report, the Company complied fully with the requirements of the UK Corporate Governance Code (September 2012) except as explained in the section entitled 'External Audit Tendering' on page 52 of the Report of the Audit Committee, where the requirements and associated transitional arrangements of various regulatory bodies are still being established.