Workings of the Board
The board currently comprises the chief executive, the finance director,
the property director, the corporate director and two independent non-executive directors of
which one is chairman. These demonstrate a range of experience and
sufficient calibre to bring independent judgement on issues of strategy,
performance, resources and standards of conduct which are vital to the
success of the company. The board is responsible to shareholders for the
proper management of the company.
The board has a formal
schedule of matters specifically reserved to it. All directors have
access to the advice and services of the company secretary, P A
Batchelor, who is responsible to the board for ensuring that board
procedures are followed and that applicable rules and regulations are
complied with. In addition, the company secretary ensures that the
directors receive appropriate training as necessary. The appointment and
removal of the company secretary is a matter for the board as a whole.
board meets approximately ten times a year, reviewing trading
performance, ensuring adequate funding, setting and monitoring strategy,
examining major acquisition possibilities and reporting to
shareholders. The non-executive directors have a particular
responsibility to ensure that the strategies proposed by the executive
directors are fully considered.
The remuneration and audit committees deal with specific aspects of the groupís affairs.