The board is committed to ensuring that the Group is well managed and that rigorous and transparent procedures allow this to happen.
The principal governance rules applying to UK companies listed on the London Stock Exchange are contained in The UK Corporate Governance Code, revised by the Financial Reporting Council in September 2014 (the “Code”). This report also includes the information that is required by the Financial Conduct Authority’s Listing Rules (“LR”) and Disclosure Rules and Transparency Rules (“DTR”) to be contained in the Company’s annual report.
The board consists of:
- A non-executive chairman;
- Four independent non-executive directors;
- A non-executive director; and
- Two executive directors - the chief executive and the managing director, retail
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Key board responsibilities
The board is responsible for:
- Group strategy, objectives and policies;
- General and long-term progress of the Group within the political, economic, environmental and social setting of the day;
- Financial performance, annual budgets and business plans;
- Major capital expenditure, acquisitions and divestments;
- Annual and half-year financial results and interim management statements;
- Board committees and their terms of reference;
- Internal controls and risk management;
- Responsible gambling and ethical behaviour;
- Sound governance, health and safety, and environmental policies;
- Board and company secretary appointments;
- Senior management structure, remuneration and succession; and
- Investor relations.
Specific responsibilities are delegated to our five board committees: