Governance

The UK Corporate Governance Code recommends that at least half the members of the board of directors (excluding the chairman) of a public limited company incorporated in England and Wales should be independent in character and judgement and free from relationships or circumstances which are likely to affect, or could appear to affect, their judgement.

The UK Corporate Governance Code also recommends that the board should appoint one of the independent non-executive directors as senior independent director and David Adams has been appointed to fill this role. The senior independent director should be available to shareholders if they have concerns which contact through the normal channels of chairman, chief executive or finance director has failed to resolve or for which contact is inappropriate.

Currently, the Board is composed of six members,consisting of two executive directors and four non-executive directors, three of whom are independent:

Dennis MillardChairman
Jill McDonaldGroup Chief Executive
Jonny MasonChief Financial Officer
David AdamsSenior Independent Director
Claudia ArneyNon-Executive Director
Helen JonesNon-Executive Director

Accordingly, no individual or group of individuals dominates the Board's decision taking.

The board has established Nomination, Remuneration and Audit Committees, with formally delegated duties and responsibilities, and written terms of reference. From time to time, separate committees may be set up by the Board to consider specific issues when the need arises.