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  • Davies Review 'Women on boards'

  • We aim to develop and operate our business with an inclusive and diverse culture, with equal opportunity in recruitment, career development, training and reward. These policies support the attraction and retention of the best people, improve effectiveness, deliver superior performance and enhance our success.

    Our executive and leadership population is regularly and rigorously assessed against achievement of individual objectives and key leadership qualities to help build a sustainable development and succession plan. We have a number of programmes and initiatives in place to increase diversity in our senior management positions, including executive sponsorship and mentoring of high potential females and ethnic minority managers.

    On the basis of headcount, the percentage of women in senior management positions is 25 per cent and 23.5 per cent across the whole company (as at 31 March 2016).

    Our Board diversity policy reaffirms our aspiration to meet and exceed the target of 25 per cent of Board positions to be held by women by 2015, as set out by Lord Davies. In October 2015, Lord Davies published his final report on women in the boardroom and recommended a new voluntary target of 33 per cent of board positions to be held by women by 2020. Our Board continues to support the engagement of executive search firms who have signed up to the Voluntary Code of Conduct on gender diversity and best practice.

    The Nominations Committee is responsible for developing measurable objectives to support the implementation of the Board diversity policy and for monitoring progress towards the achievement of these objectives. In April 2016, the Nominations Committee discussed progress made against our Board diversity policy and noted the new 33 per cent target. The Nominations Committee regularly reviews the balance of skills, experience, independence, diversity and knowledge on the Board and its Committees, but is mindful that in all appointments we secure the best candidate for the relevant role.

    We currently have 25 per cent women on our Board and 25 per cent of women on our Executive Committee.

    Updated 1 November 2016