Barclays 2012 Annual Report Download - page 30

Corporate Governance
The UK Corporate Governance Code
makes clear that corporate governance is
about what the board of a company does
and how it sets the company’s values.
This is something that has been brought
into sharp focus for Barclays during 2012.
Barclays has a well-defined and well-structured corporate governance
framework in place to support the Board’s aim of achieving long term
and sustainable shareholder value. But however robust the framework,
it is imperative that it is supported by the right culture, values and
behaviours, both at the top and throughout the entire organisation.
In 2012, Barclays faced much criticism of the values and behaviours it
has demonstrated. We are unanimous as a Board that we must accept
this criticism and seek ways in which we can do better in the future.
I regard the independent review of Barclays business practices, led by
Anthony Salz, which we announced in July 2012, and the work instigated
by Antony Jenkins on culture and values as part of the Transform
Programme, as providing a solid foundation on which we can build and
move forward to become best in class.
As Chairman, I am responsible for the effective performance of the
Board and, in that regard, one of my areas of focus since joining the
Board has been to ensure that we have a strong and well-functioning
Board, comprised of individuals not only with the right abilities in terms
of technical or business experience, but with the personal qualities
required to be effective stewards of the business and the dedication
and commitment to the Company, particularly in times of stress.
Tim Breedon and Diane de Saint Victor have joined the Board as
non-executive Directors since I joined the Board and I anticipate that
we will make further appointments during the course of 2013.
We are determined as a Board and as a company to make progress
during 2013 and to do everything in our power to regain the trust
of our stakeholders: our commitment to implementing the
recommendations of the Salz Review is affirmation of our
determination.
Sir David Walker
Chairman
5 March 2013
Notes
a Known as the Board Financial Risk Committee with effect from 31 January 2013.
b Known as the Board Conduct, Reputation and Operational Risk Committee with
effect from 31 January 2013.
Corporate Governance Framework
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Board
Corporate
Governance
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Nominations
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Board Enterprise Wide Risk Committee
A Board Enterprise Wide Risk Committee was established at the end of January 2013.
barclays.com/annualreport28 I Barclays PLC Annual Report 2012