Board evaluation

The board has been committed to an on-going self-evaluation process since 2018, the most recent having been completed in 2025.

During the last quarter of 2025, the board undertook an internal board evaluation.The process was led by the chairman in conjunction with the company secretary. Members of the board completed a questionnaire which comprised a mixture of quantitative and qualitative questions focussed on ten indicators of an effective board such as its composition and structure, its skills, responsibilities, the organisation and conduct of board meetings, stakeholder engagement, committees, culture and risk management as well as inviting feedback on the chairman. All areas of assessment came out well, with the majority being very highly endorsed, and this was also reflected in a considerable amount of positive feedback in the comments. Further analysis identified some scope for improvement, including board delegation and the need to develop further understanding of how emerging technology may impact the business.

In response to the outcomes of the 2024 evaluation, which had been facilitated by an external assessor, during 2025 the board took note of the recommendations when selecting a new independent non-executive director, as well as in the appointment of its committee chairs and senior independent director.