“Our governance framework helps us set priorities, establish accountabilities and manage risks effectively.”
In my last year as Chair and on behalf of the Board, I am pleased to introduce the Governance Report for the year ended 31 December 2022. The following sections provide readers with an overview of the Group’s governance arrangements.
As a company admitted to AIM, our governance is underpinned by the Quoted Companies Alliance (QCA) Corporate Governance Code 2018 (the ‘QCA Code’). During the year, we have complied with the principles of the QCA Code and details of how we have done so can be found in the governance section of the Company’s website. The Board continues to ensure that our corporate governance processes remain robust, challenging and appropriate providing strong foundations to underpin our assessment of risks to our strategy and the delivery of that strategy for the long-term sustainability of the business.
During the year we took the opportunity to review and reset our strategy and we have redefined our vision and purpose, which you can read more about on pages 11 to 17. We have aligned this with our governance framework to ensure it is supportive of the strategy and the decisions we as a Board and as Directors must make. This year has not been without its challenges, as the business has continued to navigate certain externalities resulting from changes in the macro-economic, political and residual post-pandemic environments. Some of these challenges are explained in the section on Protecting the Business. The good work of the Committees also ensures there is appropriate focus with sensible, pragmatic outcomes. You can read more about their work in the reports that follow.