GOVERNANCE
Martin Murray
Group Company Secretary
"Governance is about managing the company effectively and showing that we have a transparent, consistent and effective way of governing ourselves."
Our group is committed to achieving high standards of corporate governance.
Governance is broader than just thinking about committee structures and manuals; it covers every aspect of the organisation including how we make strategic decisions, how we incentivise people, how we manage our risks and most importantly how we create the culture to build shareholder value. The adjacent diagram illustrates what we see as the key components of our governance framework. All of these components are interconnected and all are necessary for robust governance and the effective function of Old Mutual's three-lines-of-defence risk governance model.
The principal governance rules that apply to UK companies listed on the London Stock Exchange are set out in the Combined Code appended to the Listing, Prospectus, Disclosure and Transparency Rules of the Financial Services Authority (the Combined Code). As the Company's primary listing is on the London Stock Exchange, this report mainly addresses the matters covered by the Combined Code, but the Company also has regard to governance expectations in the four other territories where its shares are listed.
The Board has a number of standing committees or sub-committees, to which various matters are delegated in accordance with their respective terms of reference. The Board also establishes committees on an ad hoc basis to deal with particular matters. In doing so, it specifies a remit, quorum and appropriate mix of executive and non-executive participation. View the Board Committees.
