Our governance framework enables informed and effective decision making, and provides effective oversight and clear accountability.
The Board is responsible for developing the strategy of the Group and ensuring there are sufficient resources to successfully implement that strategy. Collectively, the Directors are responsible for setting and protecting the purpose, culture and values of the Group.
Matters which are reserved for consideration by the Board and are not delegated to a Board Committee or to the Group Leadership Team are detailed in a Schedule of matters reserved for the Board (the 'Schedule'), which is reviewed annually.
These matters include:
approval of published financial statements, the dividend policy and other disclosures requiring Board approval;
declaration of interim and recommendation of final dividends;
approval of budget and Group strategy and objectives;
appointment and remuneration of Directors, the Company Secretary and other senior executives;
approval of the design, implementation and maintenance of a framework of prudent and effective controls that enable risks to be assessed and managed;
approval of major acquisitions and disposals;
approval of authority levels for expenditure;
approval of certain Group policies; and
approval of shareholder communications.
