Corporate governance

Good corporate governance is an integral part of our CR programme. It ensures that CR continues to be integrated into the strategic decision-making of the business. This in turn, enables us to be committed and organised to understand and respond to the short and long-term CR issues that are material to our businesses, manage our key risks, and respond to the needs and concerns of our stakeholders.

Overall responsibility for our CR programme rests with the Group Chief Executive Officer. CR and community affairs issues are regularly considered by the board; a corporate affairs activity report, which includes updates on our CR and community involvement activities, is presented at each board meeting. The group executive committee, which includes the executive directors and senior management, and is chaired by the interim executive chairman, reviews and approves the CR programme and budget. These governance structures are underpinned by a range of corporate and division-specific policies which set out the codes of conduct, controls, processes and requirements of all employees and divisions within the Group, as well as at the corporate office. You can read more about our policies here.

The group’s CR team continues to be responsible for the ongoing delivery of the CR programme and is supported by colleagues from the operating companies. This includes the colleagues on the environmental working groups that are in place across the business who oversee the delivery of the environmental management system. To further enhance the oversight that is provided to the group’s CR programme, and to facilitate greater group-wide working, an additional two steering groups will be established in 2018. These will be an inclusive workplace steering group, to enable the effective management of EDI issues across the group, and a Social Impact Programme steering group which will ensure that the group’s community investment activities are aligned to, and supportive of, the group’s social purpose, culture and ethics.

To strengthen the way that the group’s CR programme is governed and managed, a new Board committee will be established in 2018 to be chaired by a new non-executive director, focusing on the customer, culture and ethics, to help drive changes in behaviour and attitudes across the group. 

This committee will, among other things, provide oversight and challenge to the group’s newly re-constituted executive committee, which includes the executive directors and senior management and is chaired by Malcolm Le May, to deliver real cultural change. The executive committee will oversee the development, embedding and monitoring of the culture and ethics of the group, consistent with being a trusted, responsible and sustainable business. This will involve ensuring that the policies, procedures, systems and behaviours of group’s operating companies are consistent with the group’s social purpose, and ensuring that any material issues which relate to the culture and ethics of the group are reported to other relevant Board committees.

To read more about recent developments in the corporate governance structure of the group, please download the Our Business section of our 2017 CR report.