Shaftesbury AR 2017 LR

GOVERNANCE Shaftesbury Annual Report 2017
Corporate
Governance
THE ROLE OF THE BOARD IN
GOVERNANCE IS TO SET THE
STRATEGIC AIMS OF THE
BUSINESS, PROVIDE LEADERSHIP
AND SUPERVISION AND
REPORT TO SHAREHOLDERS
ON ITS STEWARDSHIP
Dear shareholder
I am delighted to be writing to you following my first
year as your Chairman.
Corporate governance is embedded in our culture
and the day-to-day running of your Company. I am
committed to maintaining the high standards we
have demonstrated for many years. We pride
ourselves on being open, transparent and engaged
with our shareholders, stakeholders and our local
community.
We have a well-balanced Board with a good range
of skills. It is important that I ensure there is a steady
and smooth rotation and refreshing of nonexecutive
directors.
Oliver Marriott retired as a director in July having
served for almost eight years. I thank him, on behalf
of the Board and shareholders, for his contribution
during this time.
We will appoint a new non-executive director,
Richard Akers, on 28 November 2017. His skills will
complement those of his fellow directors. He will be
proposed to shareholders for election at the AGM
in February 2018. The process leading up to his
recommendation for election is contained in the
Nomination Committee report. We are delighted to
welcome him to the Board.
In accordance with good governance, each of my
fellow directors and I will stand for re-election at the
AGM. The Nomination Committee had recommended
the re-election of Jill Little and Hilary Riva, who have
both served on the Board for more than six years,
having considered the contribution that they make
to the business and their continuing independence.
Compliance with the UK
Corporate Governance
Code
The Company has complied in full with the UK
Corporate Governance Code during the year.
The application of the principles of the Code is
contained in this report and in the individual
Committee reports which follow.
Employees
The knowledge, experience and commitment of our
employees is critical to the delivery of our strategy.
I have spent time this year getting to know, not only
my fellow Board members, but also everyone who
works for us.
This year, we have focussed on employee recruitment,
training and development. We have instigated a
number of procedures around recruitment to ensure
we recruit from a diverse talent pool. Training and
development are important to ensure employees
grow in their roles and that we continue to retain
their skills and experience.
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