The Chief Executive Officer is responsible for leadership of the business and is supported in this role by the Group Executive Committee. The Chief Executive Officer leads the development of Group strategy and is ultimately accountable for delivery of the Group’s business plan.
A. The Chief Executive Officer is responsible for the following, within the authority limits delegated to him or her by the Board:
- Business Strategy and Management
- Developing Company objectives and strategy for recommendation to the Board, having regard to the Company’s responsibilities to its clients, employees, shareholders and other key stakeholders.
- The successful achievement of objectives and execution of strategy following presentation to, and approval by, the Board.
- Reviewing regularly the Group’s operational performance and strategic direction and reporting accurately in agreed formats to the Board and its Committees.
- Planning people resourcing to ensure that the Company has the capabilities and resources required to achieve its objectives and strategy.
- In conjunction with the Group Chief Financial Officer, recommending to the Board an annual budget and, if appropriate, a longer-term financial plan, and ensuring their achievement following Board approval.
- Optimising as far as is reasonably possible the use and adequacy of the Company’s resources.
- Maintaining a dialogue with the Chair and the Board on important and strategic issues facing the group.
- Investment and Financing
- Examining all trade investments and major capital expenditure proposed by any subsidiary company and recommending to the Board those which, in a Group context, are material either by nature or cost.
- Identifying, recommending to the Board and executing acquisitions and disposals, approving major proposals or bids.
- Leading geographic diversification initiatives.
- Identifying, recommending to the Board and executing new business opportunities outside the current core activities.
- Ensuring that financial results, business strategies and, where appropriate, targets and milestones are communicated to the investment community.
- Risk Management, Internal Controls and Governance
- Managing the Company’s risk profile in line with the extent and categories of risk identified as acceptable by the Board and the Audit and Risk Committee.
- Ensuring appropriate internal controls are in place in relation to the Company’s business activities.
- Ensuring that succession plans are put in place for members of the Group Executive Committee and other members of senior management (in conjunction with the Nomination Committee) and arranging appropriate development.
- Overseeing safety management processes, including the system for reporting incidents and safety training programmes.
- Maintaining high standards of corporate governance.
- Conducting the Group’s business affairs with the highest standards of integrity and having regard to the Group’s responsibilities.
- Safeguarding the reputation of the group.
- Avoiding conflicts of interest.
- Board Committees
- Making recommendations on remuneration policy, executive remuneration and terms of employment of members of the Group Executive Committee and all Code Staff.
- Making recommendations to the Nomination Committee on the role and capabilities required in respect of the appointment of Executive Directors.
- Communication with Stakeholders
- At Board meetings report on matters affecting the Group, including all key stakeholders.
- Providing a means for timely and accurate disclosure of information, including an escalation route for issues.
- Ensuring open and effective communication with shareholders.
- Leading the investor relations programme, and ensuring that the Board is made aware of shareholders’ view on relevant issues.
- Representing the Group externally with key stakeholders.
- Other
- Setting Company HR policies, including management development and succession planning for members of the Group Executive Committee and approving the appointment and termination of employment of members of that team.
- Setting the culture of the Group, ensuring that this is aligned with the Group’s purpose, values and strategy.
B. The duties which derive from these responsibilities include:
- Leading the Group Executive Committee in the day to day running of the Group’s business, including chairing meetings of the Group Executive Committee and communicating its decisions/recommendations to the Board.
- Ensuring effective implementation of Board decisions.
- Regularly reviewing the operational performance and strategic direction of the Group’s business.
- Regularly reviewing the Group’s organisational structure and recommending changes as appropriate.
- Formalising the roles and responsibilities of the senior executive team, including clear delegation of authorities.
- Supervising the activities of subsidiary companies’ most senior executives.
- Developing senior teams within subsidiaries and ensuring succession planning.
- Developing the following policies for Board approval and then implementing them:
- Codes of ethics and business practice;
- Share dealing code;
- Diversity, Equity and Inclusion policy;
- Anti-Slavery & Human Trafficking policy;
- Anti-Corruption & Bribery and Whistleblowing policy;
- Health and safety policy, risks and procedures;
- Communications policy (including procedures for the release of price sensitive information);
- Investor relations policy;
- ESG policy
- Corporate social responsibility policy; and
- Charitable donations policy.
- Ensuring that all Group policies and procedures are followed and conform to the highest standards.
- Establishing a close relationship of trust with the Chair, meeting regularly with him, reporting key developments to him in a timely manner and seeking advice and support as appropriate.
- Together with the Chair, providing coherent leadership of the Group, including, representing the Group to clients, employees, shareholders, suppliers, government, financial institutions, the media, the community and the public.
- Alert the Chair to forthcoming complex, contentious or sensitive issues facing the Group.