The Company is committed to maintaining high standards of corporate governance and to applying the Principles of Good Governance set out in the Combined Code appended to the Listing Rules of the Financial Services Authority ("the Code"). The Directors can confirm compliance throughout the year with the revised Combined Code with the exception of: the Nomination Committee, which does not comprise a majority of independent non-executive directors. Whilst the Nomination Committee, which comprises the Chairman, a Non-executive Director and the Group Chief Executive, leads the process of Board appointments, the Chairman will consult with all the Directors on a regular basis throughout the process. In the opinion of the Board, the constitution of the Committee is therefore appropriate given the size of the Board and the process undertaken for Board appointments.
Terms of reference
Most computers will open PDF documents automatically, but you may need to download Adobe Reader.