The Board is collectively responsible for the long-term success of the Group, for developing and delivering its strategy and for establishing a framework of prudent and effective controls to assess and manage risk effectively.

As a Board, we believe that the Group and the delivery of its strategy should be based on strong governance. We also believe that good governance is essential to the way in which we operate on a day-to-day basis. The Group’s management and governance framework, which is summarised below, has been implemented to support the Group’s long-term growth objectives.

The Board currently comprises the Chairman, two executive directors and four other non-executive directors. The diverse range of skills and leadership experience of the non-executive directors enables them to scrutinise performance, assess the Group’s risk management and control processes, provide constructive challenge and support the executive directors.

The duties of, and those decisions which can be made by, the Board are clearly defined in the schedule of matters reserved for the Board.

The matters requiring Board approval include, amongst others:

  • The Group’s strategic plans;
  • Mergers, acquisitions and disposals of a material size and nature
  • Material changes to the Group’s structure and capital;
  • The payment of dividends; and
  • The approval of material Group policies.