Annual report 2010 - Imperial Tobacco Group

“High standards of corporategovernance and responsiblemanagement underpin oursales growth strategy.”Iain NapierChairman2011 include the further enhancement of our anti-illicit tradeactivities to assist in combating both the smuggling andcounterfeiting of tobacco products and, following the signing ofthe co-operation agreement, further building on our partnershipwith the European Commission and the Member States of theEuropean Union.We also intend to complete the roll-out of training regardingour updated Code of Conduct which sets out the standardsof responsible behaviour that all our employees are expectedto follow and forms a key part of our preparations for ensuringcompliance with the UK Bribery Act. We are also embeddingan e-learning system to further support this training.On 1 October 2010 the Chief Executive’s Committee wasreplaced by the Operating Executive and the DevelopmentExecutive to enhance support for our sustainable sales growthstrategy. During 2011 this revised management structure willbe embedded into the business.Our governance processes support and underpin oursustainable sales growth strategy and we will continue todrive these during the year. We will also continue to supportreasonable regulation of tobacco products but will challengeregulation that undermines the principles of adult choice andthe freedom of competition.Looking ahead I believe that achieving these key prioritieswill put us in a strong position to build on our track record ofcreating long-term sustainable value for our shareholders andprovide a strong platform for growth throughout the business.Iain NapierChairmanAchievements in 2010 Priorities for 2011– Appointment of new Chief Executive– Altadis integration in final stages moving towards businessas normal– Ongoing enhancement of our risk management processes– Enhancement of our anti-illicit trade activities includingsigning co-operation agreement with the EU andMember States– Review compliance with the new UK CorporateGovernance Code– Further enhance anti-illicit trade activities, including buildingon our partnership with the EU and Member States– Complete roll-out of updated Code of Conduct– Ensure compliance with provisions of the UK Bribery Act– Embed our new management structure55