Governance

The Board is committed to maintaining high standards of Corporate Governance. The Board first reported its compliance with the new Combined Code in 2004 and since then has continued in its efforts to develop further its approach to corporate governance and the effective management of risk in the context of a rapidly growing business.

Highlights

• Appointment of Ishbel Macpherson as Non-Executive Chairman and Chairman of the Nomination Committee, and Michael Averill as Senior Independent Director and Chairman of the Remuneration Committee.
• Appointment of James Morley as Non-Executive Director and Chairman of the Audit Committee and retirement of David Galloway as Non-Executive Director and Chairman of the Audit Committee.
• Ongoing review of the effectiveness of the Board's operation.
• The UK Corporate Governance Code Compliance Statement, including terms of reference of the Board and each Committee, available on this website.

UK Corporate Governance Code Compliance

The Board is committed to maintaining high standards of corporate governance. The Board first reported its compliance with the new Combined Code in 2004 and since then has continued to comply in full with the Combined Code and to develop further its approach to corporate governance and the effective management of risk in the context of a rapidly growing business.

The Board adopted a UK Corporate Governance Code Compliance Statement on 30 March 2011.