The Company is committed to the principles contained in the UK Corporate Governance Code and the Combined Code on Corporate Governance that were issued in 2010 and 2008, respectively, by the Financial Reporting Council and for which the Board is accountable to shareholders.
The Board’s role is to provide entrepreneurial leadership and develop strategy, values and standards while maintaining prudent and effective controls to assess and manage risk. The Board is responsible for ensuring that the Company meets its obligations to stakeholders and has adequate resources to meet its strategic objectives.
The roles of the Chairman and Chief Executive Officer are separated and their responsibilities are clearly established, set out in writing and agreed by the Board.The Chairman and the Chief Executive collectively are responsible for the leadership of the Company. The Chairman is responsible for the leadership of the Board, ensuring its effectiveness on all aspects of its role and
setting its agenda. The Chief Executive is responsible for leading the executives and ensuring
their effectiveness in the running of the Company’s business and implementing strategy and policy. Together they are responsible for promoting the highest standards of integrity and probity.