Procedures and processes

The Board is supplied with information in a form and quality to enable it to take informed decisions and to discharge its duties. All Directors are encouraged to make further enquiries as they consider appropriate of the Executive Directors or management. Directors are provided with detailed briefings on the Group's businesses, the markets in which they operate and the overall economic and competitive environment. Other areas addressed include legal issues and responsibilities of Directors, the Group's governance arrangements and its Investor Relations programme.

In the case of newly appointed Directors, an induction programme, which includes training on the responsibilities of a Director, occurs prior to or immediately following their appointment to the Board, if that appointment was the first occasion that they have been appointed to the Board of a listed company. A tailored induction programme is provided for Non-executive Directors on appointment, co-ordinated by the Company Secretary in accordance with guidelines issued by the Institute of Chartered Secretaries and Administrators. Non-executive Directors are encouraged to visit the Group's major properties to enable them to gain a greater understanding of the Group's activities. In addition, one Board meeting each year is held at an ‘off-site’ location which incorporates a visit to one of the Group's principal properties or developments.

The Board supports Executive Directors taking up Non-executive Directorships as part of their continuing development which will ultimately benefit the Company. As a matter of policy such appointments are normally limited to one Non-executive Directorship.

Board performance evaluation 

A formal and rigorous evaluation of the performance of the Board, its Committees, the Directors and the Chairman is conducted each year.

This year was the third in the Group's three-year performance evaluation cycle. The overall aim was to assess current performance, progress made and opportunities for improvement based on a survey comprising a number of open questions on the workings and effectiveness of the Board and its Committees. The responses were discussed at a series of individual interviews with Directors, conducted by the Chairman. The outcome of the evaluation was fed back to the Board at its meeting in March 2015 and a series of action items agreed.

Board evaluation cycle

Board evaluation cycle diagram

 

Sustainability Report 2016
View this year's Sustainability Report and all other sustainability-related publications.
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