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Values and Ethics Committee report
Introduction by Values and Ethics Committee Chairman
“I am pleased to present the first report of the Bank’s newly-created Values and Ethics
Committee (V&E Committee). The V&E Committee’s Terms of Reference were approved
on 1 November 2013 and can be found on the Bank’s website. The Committee met for
the first time on 29 January 2014.”
Richard Pym
Values and Ethics Committee Chairman
Purpose of the Value and Ethics Committee
To recommend to the Board for its approval and adoption the Co-operative Values and Ethical Policies of the Bank.
The members of the V&E Committee are as follows:
Current members Appointed Resigned
Richard Pym (Chair since 13 December 2013) 13 December 2013
Richard Coates 13 December 2013
Anne Gunther 13 December 2013
Graeme Hardie 13 December 2013
Merlyn Lowther 13 December 2013
Bill Thomas 13 December 2013
Alistair Asher 29 January 2014 24 March 2014
The V&E Committee was constituted on 1 November 2013 demonstrating the Bank’s commitment to promoting and conducting its business in accordance
with the established values of The Co-operative Movement. The Board has commenced its search for an Independent Director to chair the V&E Committee.
The Co-operative Group has the right to appoint and remove one of its appointees to the Committee whilst it indirectly or directly holds 20% or more of the
ordinary shares of the Bank. Alistair Asher was the Group’s nominee until his resignation on 24 March 2014. The Group has currently chosen not to appoint
a member of the Board.
The Committee will meet at least twice a year and will prepare an annual report for approval by the Board.
The V&E Committee Chairman, together with other members of the Committee will attend the Bank Annual General Meeting to answer any shareholder
questions on the Committee’s activities.
The Co-operative Bank plc Annual report and accounts 2013
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