24 Finsbury Food Group Annual Report & Accounts 2016


Report on Corporate Governance


The Board is committed to high standards of corporate governance and although the Company is not required to comply with the UK Corporate Governance Code (“the Code”), the Company’s corporate governance framework is based on the Code’s main principles to the extent appropriate for the Company. The Board reviews its corporate governance arrangements on a regular basis.


 times during the year and reviews performance at each meeting. There is a schedule of matters which are reserved to the Board for decision. These matters include:


• Strategy • Acquisition policy • Corporate governance • Risk management • Health and safety • Approval of major capital expenditure • Approval of annual budgets • Approval of Annual Reports • Dividend recommendations


   Directors up until that date.


There is a clear division of responsibilities between the Chairman and the Chief Executive. The Chairman is responsible for leadership of the Board,  Directors. The Board has a culture of constructive challenge and continuous improvement.


Board Committees The Board has delegated certain responsibilities to the Audit, Nomination and Remuneration Committees.


The Audit Committee is chaired by Raymond Duignan with Edward Beale as the other member. Edward Beale will be standing down at the conclusion  on pages 26 to 27.


The Remuneration Committee is chaired by Raymond Duignan with Edward Beale as the other member. Edward Beale will be standing down at  activities are given in the Directors’ Remuneration Report on pages 28 to 34.


 


• Advising the Board on the appointment of Directors • Reviewing the composition and size of the Board • Evaluating the balance of skills, knowledge, experience and diversity of the Board 


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