Just Group plc | Annual Report and Accounts 2024
90
GOVERNANCE IN OPERATION continued
2024 BOARD PERFORMANCE FINDINGS The performance review of the Board yielded positive results, indicating significant progress in several key areas as compared to previous assessments. Notable areas included the adequacy of information provided to the Board regarding the Group’s strategic initiatives, the involvement of stakeholders at the Board and its principal Committees, and the relationship between the Chair, Non-Executive Directors, and the Group Chief Executive Officer remains strong. The review concluded that the Board, its Committees and individual Directors continue to operate effectively and demonstrate a high level of skills, knowledge and experience. Several opportunities for improvement and refinement have been identified, as detailed in the table below. The Group Company Secretary has developed an action plan that will be overseen by the Nomination and Governance Committee, with periodic progress reports presented to the Board.
2024 Board performance findings
Focus areas
Commentary and actions for 2024
Information flow
It was acknowledged that as the business continues to grow, it is important to efficiently manage the flow of information to the Board to ensure timely and appropriate communication. Additionally, regard must also be given to the administration of the Board’s annual rolling forward agenda. Agreed actions by the Board: • Conduct a comprehensive review of the administration and strategic planning related to the Board’s annual rolling forward agenda. • Ensure that the information flow from the Committees to the Board is effective, considering the timeliness and appropriateness of the information being conveyed. The effective management of the Board and its Committees is crucial for maintaining operational efficiency. While the review concluded that the Board and its Committees are effective, it was acknowledged that establishing guidelines would improve processes and provide clarity regarding both attendees’ roles and Directors’ expectations during meetings. Agreed actions by the Board: • Develop comprehensive guidelines for effectively managing the Board and its principal Committees, applicable to both attendees and Chairs. These guidelines should cover several key areas including meeting administration, attendance protocols, agenda alignment, and Directors’ expectations. To support the Group’s ongoing growth ambitions, it is important to ensure that the composition of the Board and its principle Committees remains appropriate in relation to its size, diversity and expertise, to continue to operate effectively. Agreed actions by the Board: • Conduct a review of the composition of the Board and each of the principal Committees, considering the appropriate size, diversity and expertise. • Continued focus on Executive and Non-Executive succession planning.
Board and Committee management
Board and Committee composition
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