| Systems
You will find detailed information about our corporate governance systems on pages
45 to 49 of our latest annual report. This page provides a summary.
Board of Directors
Remuneration
Financial reporting and performance monitoring
Risk management
Dialogue with shareholders
Board of Directors
- The Board has a balance of executive and non-executive Directors
- Non-executive Directors are independent
- Roles of Chairman and Chief Executive Officer are separate
- Directors submit themselves for re-election at least once every three years
- The Board sets and reviews strategic aims and ensures that systems are in place to manage risk
- The Board reviews its performance and that of its committees and individual Directors annually
- The Board receives information appropriate to enable it to discharge its duties
- The Board establishes and maintains a sound system of internal controls
The roles and responsibilities of the Board Committees can be found in the
Board Committees section. 
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Remuneration (Executive Directors and senior management)
Executive Director remuneration is set by the Remuneration Committee of the Board, It aims to ensure that the remuneration packages offered are competitive. They are designed to attract, retain and motivate Executive Directors and senior management of the right calibre in order the run the Company successfully. The Committee consults with the Chief Executive
Officer and external remuneration consultants to ensure that appropriate comparisons are made.
Detailed information can be found on pages 50 to 56 of our latest
annual report.
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Financial reporting and performance monitoring
- Each division has a detailed budgeting and financial reporting system authorised by the Board
- Our performance is monitored by the Executive Committee and the Board during regular meetings
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Risk management
- Identification of major risks is an ongoing process that is carried out by the Board in conjunction with operational management
- The Board receives regular risk reports from our Executive Committee.
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Dialogue with shareholders
- We conduct regular meetings with our shareholders. The Directors make themselves available for these meetings throughout the year
- We have provided information on this website to improve communications with shareholders
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