Good corporate governance within the Group is essential for our future performance; relations with our customers, workforce, suppliers and shareholders; and for our reputation.
The Board currently comprises seven Directors; our Chairman, two Executive Directors with extensive housebuilding experience, balanced by four Independent Non-Executive Directors with a diversity of skills and experience to provide sound advice, judgement and constructive challenge to the Executive Directors.
The Nomination Committee will continue to review succession planning and the composition of the Board with regard to the balance of relevant skills, knowledge, experience and independence.
The Board understands and has regard to the benefits of diversity, including gender diversity. The Board is currently 28% female. At 31 December 2018 we had 35 female colleagues in our 189 strong senior management team. The Group has a Diversity Policy, the objective of which is to ensure that appointments are made on the basis of merit and sustainability taking into account diversity, including gender. During 2018 the Group established a Gender Diversity Panel to consider how the Group can attract more women into the business and increase female progression into senior roles.
The Group’s culture is one of hard work with a drive for excellence. Management lead by example and all employees work to achieve high standards in all areas of the business. The Group has an entrepreneurial spirit within a structure of centralised control and a meritocratic environment.
The UK Corporate Governance Code:
Persimmon Plc has complied with the UK Corporate Governance Code 2016 throughout 2018.
During 2018 the Board conducted an exercise to prepare for the implementation of the new UK Corporate Governance Code 2018, which included:
- reviewing the Group’s culture, including how it will be monitored and assessed;
- the establishment of an Employee Engagement Panel in 2019; and
- the establishment of a Gender Diversity Panel to consider how the Group can attract more females into senior roles.
The full text of the Board’s Corporate Governance Report can be found in the 2018 Annual Report.