Governance
GKN is committed to high standards of corporate governance. We believe these are essential to our objective of providing long term shareholder value.
The Board
The Board is collectively responsible for the long term success of the Company. Its role is to provide entrepreneurial leadership of the Company within a framework of prudent and effective controls which enables risk to be assessed and managed. The Board sets the Company’s strategic aims, ensures that the necessary financial and human resources are in place for the Company to meet its objectives, and reviews management performance. It also sets the Company’s values and standards and ensures that its obligations to its shareholders (including reporting to shareholders on the Board’s stewardship) and others are understood and met.
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Boardroom Diversity
In February 2011 Lord Davies published a report “Women on Boards” containing recommendations to address the balance of women on Boards, including recommendations for listed companies to announce their goals in this regard.
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Board Committees
The Board has delegated specific responsibilities to Board Committees, each of which plays a key role within GKN's governance framework.
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Internal control
The Board attaches considerable importance to, and acknowledges its responsibility for, the Group’s systems of internal control and risk management and receives regular reports on such matters. The Board’s policy is to have systems in place which optimise the Group’s ability to manage risk in an effective and appropriate manner.
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