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 2016 UK Corporate Governance Code (UK Code).

In 2017, the FRC announced plans for a comprehensive review of the UK Corporate Governance Code, and have undertaken a public consultation, including a draft of a revised Code.  We await the results of the consultation, and continue to believe that good corporate governance is an essential foundation for any company.

The UK Code sets out the 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