On this page we describe our Board and its roles, responsibilities and procedures.
The Board of Directors currently has five members, comprising a Non-Executive Chairman, three Non-Executive Directors and one Executive Director. The maximum number of directors permitted under the Articles of the Company is eight. The directors who have an interest in the shares of the Company are set out in the relevant sections of our Annual Report and Accounts or our 20F.
Our Articles contain a provision requiring a third of the Directors to retire by rotation each year. However, in line with best practice all the directors offer themselves for re-election at each AGM. Click here to see "Directors' Profiles".
The Board has responsibility for the overall leadership of the Company, its long-term success and helping to develop and approve its strategic aims. The Directors have determined a schedule of powers reserved to the Board. Reserved powers are comprehensive and reviewed as the Board considers appropriate, normally annually. For a pdf version of the Reservation of Powers to the Board please click the download link at the foot of the page.
Division of Responsibilities
Due to the size of the Board, the directors have determined it is not necessary to appoint a senior independent Director. The division of responsibilities between the Chief Executive Officer and the Chairman is clear and it has not been considered necessary to record it in writing.
The Chief Executive Officer is responsible to the Board for the management and performance of the business within the framework of the matters reserved to the Board and for developing strategy and then implementing the strategy he has agreed with the Board;
The Chairman is responsible for the leadership of the Board and ensuring its effectiveness. He ensures that Board discussions are conducted taking into account all views, promoting openness and debate by facilitating the effective contribution of the Non-Executive Directors and ensuring no individual or group dominates the Board.