Experian 2013 Annual Report Download - page 58
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Please find page 58 of the 2013 Experian annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Your Board develops Group strategy,
approves the Group budget and provides
ethical leadership and appropriate
direction to management, while being
acutely aware of the need to:
•Protect the interests of our
shareholders;
•Protect the sensitive data we hold;
•Protect the Group against risk;
•Protect the reputation of the Group;
and
•help Protect the communities in which
we operate through the corporate
responsibility programme you read
about earlier in the annual report.
The corporate governance report which
follows will provide more detail, but
I am pleased to mention some areas
which demonstrate how we applied
the principles in the UK Corporate
Governance Code relating to the role
and effectiveness of the Board during
the financial year.
Board role
The Board, through the Nomination
and Corporate Governance
Committee, receives updates on
corporate governance developments,
to assist in ensuring that the Board
and its committees can meet best
governance practice. This year, the
Committee received updates on
the new UK Corporate Governance
Code (published in September
2012) and recommendations about
implementation of the new code. The
Remuneration Committee received
similar updates as they relate to
remuneration corporate governance
and, during the year, was briefed on the
UK Department of Business Innovation
& Skills consultation on revised
remuneration reporting regulations.
As we continue to successfully
develop our growth strategy with a
view to maintaining the performance
of recent years, your Board is mindful
of its role and the important role that
corporate governance plays in that
development. The ongoing pressures
in the global economy, among other
factors, have served to heighten
the ongoing commitment of the
Board to good governance, and the
Board’s view remains that the right
processes and people are in place at
Experian to support that development.
These processes and people allow
for first class governance without
overly restricting the innovation and
entrepreneurship of our people that
has served us so well.
In reflecting on the role of the Board
in relation to corporate governance,
it is useful to think about the Heart of
Experian, which we introduced in April
2012 and continue to embed throughout
the Group. The purpose of the Heart of
Experian is to help us further identify
our collective purpose and a way to
express the ties that bind all of the
people in the Group, as well as set
the goal of becoming one of the best
places to work.
As part of the Heart of Experian, we
introduced three words to articulate
what we stand for in the eyes of
employees, clients, investors and
the communities we serve. In other
words, our ‘core DNA’. Those words
are Connect, Protect and Create – and
it is Protect which is most relevant in
terms of corporate governance.
Governance:
Chairman’s introduction
Corporate governance involves setting appropriate strategic aims for Experian,
providing the leadership and resources to put them into effect, while striking the right
balance between risk and long-term value creation for all of our stakeholders.
Sir John Peace
Chairman
56 Experian Annual Report 2013 Governance