Governance is the system by which the company’s shareholders and their representatives on the board ensure that the company pursues its defined 
purpose and only allocates resources to that purpose.
The Group Strategy Board, responsible for the principal direction setting of the company and the ultimate custodian of governance, spends the majority of its resource looking to the future whilst monitoring the activities of the operating boards to ensure they remain on plan.
The individual operating boards, headed in each instance by the Chief Executive, are responsible for execution of the operational plan which is in turn aligned to the strategy.
The Group Strategy Board is very clear about its Governance polices and procedures. The operations boards operate within a clear and efficient governance framework that places long-term shareholder interest at the centre of everything the company does.
In maximising long-term shareholder interest, the board exercises judgement when carrying out its work in policy-making, monitoring executive action and active consideration of group strategy. While being responsible to shareholders, the Group Strategy Board also recognises the need to be responsive to a range of changing needs in the marketplace, amongst its customers, within its employees and increasingly in the environment.
