Robust governance and business ethics.

The Group has a strong governance culture in place, as detailed below, that underpins our governance ambition and helps to protect our trusted brands.

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Priority 1:

Living our purpose and values

We hold a distinct purpose that our employees comprehend and embrace. Our Code of Conduct is applicable to all employees, outlining our dedication to: (1) conduct ourselves ethically; (2) adhere to pertinent laws and regulations; and (3) consistently choose the right course of action. Our Code of Conduct further affirms our commitment to respecting and upholding globally acknowledged human rights principles, as articulated in the International Labour Organisation’s Organization’s Declaration on Fundamental Principles and Rights at Work (‘ILO Convention’) and the United Nations’ Universal Declaration of Human Rights. As we enter 2024, we will persist in enhancing the effective communication of our Code of Conduct and values, acknowledging employees who actively engage with and embody our purpose and values.

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Priority 2:

Good business ethics

Exemplary business ethics are evidenced through the implementation of comprehensive policies and procedures within the Group, coupled with our diligent efforts to monitor employee awareness and adherence to these guidelines. Key policies that reinforce our Code of Conduct include our Anti-Slavery and Human Trafficking Policy, distinct versions for both suppliers and employees, our Anti-Bribery and Corruption Policy, our Competition Law Policy and our Whistleblowing Policy.

In 2023, we conducted a thorough review of all Group Policies to ensure their continued relevance and applicability. This initiative aimed to guarantee that employees have a clear understanding of how these policies are to be implemented while working within the Group.

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Priority 3:

Sustainable governance

We have incepted good sustainable governance practices in the business, as described in our Task Force on Climate‑Related Financial Disclosures on pages 53 to 56. With an increased emphasis on the Group’s Sustainability Framework, we are actively working towards fostering a cultural transformation throughout the organisation. Our goal is to ensure that sustainability becomes more deeply integrated into our overall operations and behaviours.

Corporate governance

The Company follows the UK Corporate Governance Code (Code). In accordance with the Code, the following information is made available:

Title Document
Matters reserved for the Board View
Articles of Association View
Terms of reference for the Audit Committee View
Terms of reference for the Nomination Committee View
Terms of reference for the Remuneration Committee View
Terms of reference for the Risk and Sustainability Committee View
Memorandum of Association View
Title Document
Matters reserved for the Board View
Articles of Association View
Terms of reference for the Audit Committee View
Terms of reference for the Nomination Committee View
Terms of reference for the Remuneration Committee View
Terms of reference for the Risk and Sustainability Committee View
Memorandum of Association View

Other corporate governance documents:

Title Document
Terms of reference of Chairman, Chief Executive Officer and Senior Independent Director View
Title Document
Terms of reference of Chairman, Chief Executive Officer and Senior Independent Director View