We believe all our Directors must act in good faith to promote long-term success. Our Directors share equal responsibility for all decisions taken and are collectively responsible for the strategic direction of the Company.

Our Board has been structured to ensure that no single individual can dominate the decision making process.

We have a premium listing on the London Stock Exchange and comply with the full provisions of the 2014 UK Corporate Governance Code (UK Code). A new version of the UK Code was introduced during 2016 and was applicable from 17 June 2016. We will report formally on the adoption of the updated UK Code in the 2017 Annual Report

The UK Code sets out 18 main principles of good governance in relation to leadership, effectiveness, accountability, remuneration and relations with shareholders, with responsibility for compliance resting with the Board. We have applied these to develop our Governance Framework which is illustrated below and described in more detail in our Governance report.

Committees

Our Board is assisted by four committees - the Audit, Compliance and Ethics, Nominations and Remuneration committees

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