Boardroom Review Limited has no connection to Picton or with any of its Directors. Diversity and inclusion The Company values the contributions made by all of our team and is committed to treating all employees equally and considers all aspects of diversity, including gender, when considering recruitment at any level of the business. We recognise the need for diversity and support the move for greater gender and ethnicity representation on Boards. As a small team we do not have regular appointments and opportunities to increase diversity are limited, however it is our strong intention to do so whenever possible. All candidates are considered on merit but having regard to the right blend of skills, experience and knowledge at Board and Executive level, and amongst our employees generally. Tenure and re-election The tenure of Non-Executive Directors, including the Chair, is limited to nine years in accordance with the Corporate Governance Code. The provisions of the Corporate Governance Code recommend that all Directors be subject to annual re-election at the Annual General Meeting. The Board will follow this recommendation at this year’s Annual General Meeting. Lena Wilson CBE Chair of the Nomination Committee 24 May 2023
This year the Board conducted an external review carried out by Boardroom Review Limited. This comprised a series of interviews with each of the Directors individually, and the Company Secretary, followed by a workshop where the interview feedback was discussed and summarised, and subsequent actions agreed. The review concluded that the Board, its Committees and the individual Directors continue to operate very effectively. The key themes and actions arising from the review were: ‒ Ensure opportunities for growth and increasing scale are fully considered ‒ Establish clear parameters on risk appetite ‒ Maintain occupier focus, especially around office working and technology ‒ Encourage more external perspectives, particularly ESG and technology ‒ Consider expertise and resource within the team ‒ Improve diversity at Board level and within the team ‒ Review existing company secretarial arrangements ‒ Consider future Board composition ‒ Review cyber security and data As noted in the Introduction to Governance, we have reviewed our company secretarial arrangements and decided the function should be brought in-house. The Committee will provide an update on the other actions arising from the evaluation in its next report.
The external review concluded that the Board, its Committees and the individual Directors continue to operate very effectively. Lena Wilson CBE Chair of the Nomination Committee
Picton Property Income Limited Annual Report 2023
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