Board Performance Review

Board Performance Review

A formal Board effectiveness review is conducted on an annual basis. This includes an assessment of the Board, its Committees and individual Directors.

FY24

Internal Performance Review

FY25

Internal Performance Review

FY26

External Performance Review

FY25 Performance Review Process

Step One

Online surveys issues to the Board members.

Step Two

Received and analysed the feedback with the Chair of the Board. The Chair produced a note of action points to be addressed, which was circulated to the Board members.

Step Three

The Chair of each Board Committee received the evaluation report in relation to their Committee, and time was arranged to consider the findings and agree an action plan.

Step Four

Implementation and monitoring of the action plans.

FY24 findings

The findings identified by the FY24 internal review and progress made in FY25 are as follows:

Topic FY24 Outcomes Progress Made in FY25
Understanding the business Visit operations / Support Centre over next 12 months A number of Board meeting were held at the Support Centre. and some of the Board attended an investor event which was held at the Fusion store in Milton Keynes.
Understand the external perspective Review OC&C report on future trajectory of core markets. Received a market review presentation on the external tyre market.
Review Board papers and process Review the process and look at length and timing of Board papers. This is constantly reviewed and updated accordingly.
Consider post investment reviews (“PIRs”) Ensure PIRs are scheduled on the Audit Committee and Board agendas as relevant. The Board considered post investment reviews on a major acquisition and an investment

FY25 findings

The findings identified by the FY25 internal review were as follows:

Topic FY25 outcomes
Board meetings Board presentations in FY26 focusing on colleagues, customers, suppliers and financials to provide the Board with discrete focus on these matters.
Succession on talent Review the composition of the Board to ensure there is a sufficient number of members, covering the breadth of skill required for a complex, multi-site business.
Technical support Ensure the business has sufficient technical capability especially given the recent cyber issues experienced by other retailers.
Provision 29 Ensure the correct capabilities and processes are put in place to provide the Board comfort when making the required attestations under Provision 29.