The Board recognises the importance of good corporate governance in creating a successful, sustainable and profitable business.
The Company is now required to report under the 2018 UK Corporate Governance Code, published in July 2018. The 2018 Code places greater emphasis on relationships between companies, shareholders and stakeholders. It also promotes the importance of establishing a corporate culture that is aligned with the Company's purpose and business strategy, promotes integrity and values diversity. Some of these aspects of the 2018 Code are reflected in the Strategic report from the Annual Report 2020 which sets out the Group's strategy, progress and performance for the year.
Meanwhile, the effects of the corporate governance aspects of the 2018 Code are reflected in the Corporate Governance Statement, which sets out the Company's compliance against published governance requirements and covers:
- Compliance with the 2018 UK Corporate Governance Code to the extent that it is able
- Response to Covid-19
- Internal control
- The Board, its Committees and their structure and operation
- Board Composition during FY2020
- Shareholder relations
The Investment Association has established a public register of listed companies who have received shareholder opposition of more than 20% on any resolution.