Holiday Inn 2015 Annual Report Download - page 61

New Director inductions
All new Directors undergo a comprehensive and formal induction
programme which is tailored to meet their individual needs. We
believe this is crucial in ensuring our Directors have an in-depth
understanding of the Group’s business and our business model,
our principal activities, and our strategy, which is key in enabling
all Directors to contribute to the Board effectively with their
knowledge, skills, experience and expertise.
The Company Secretary develops an induction programme
in consultation with each new Director, the Chairman and the
Chief Executive Officer, and the induction is led by the Chairman
in accordance with best-practice principles.
Our inductions provide new Directors with the information necessary
to familiarise them with the Group’s governance framework,
their duties as Directors, and the Group’s business, including
our operations and KPIs, as well as our approach to internal controls
and risk management. New Directors are also equipped with a full
understanding of our history, brands, regional structures and
the IHG Owners Association.
Meetings take place with members of the Board and the Executive
Committee, senior executives and regional and central management
from various functions across the Group, including but not limited to
Business Reputation and Responsibility; Human Resources; Corporate
Affairs; Global Strategy; Global Internal Audit and Group Finance,
and the external Auditor. In addition, Directors have the opportunity
to visit our global corporate offices and hotels to provide further
insight into our business.
Ongoing Director training and development
We believe that updating skills and knowledge via ongoing training
and development to understand the Group’s business and its
operations is of great importance. At IHG, this is a progressive
exercise. The Chairman regularly reviews and agrees any training
and development needs with each Director and the Board is made
aware of training opportunities. Additional information is provided
as necessary to enable the Board to keep up to date with, and enhance
their knowledge of, the business, and to keep abreast of any
regulatory and corporate governance developments.
Board and Committee meetings are regularly used to keep Directors
formally up to date on developments in the environment in which
the business operates, with in-depth discussion and presentations
provided by senior management on key topical areas as required.
Board meetings are intentionally held at IHG hotels in different locations
to provide first-hand experience of the different brands across our
portfolio, to broaden the Board’s exposure to the geographical markets
in which we operate and to provide opportunities to meet frontline staff
and other colleagues. In 2015, Board members attended meetings held
at various IHG hotels in London, including InterContinental London Park
Lane and Crowne Plaza Kensington, in addition to meetings held at the
Group’s head offices in Denham, UK and Atlanta, US. As part of our
annual two-day strategy meeting, Board members attended meetings
at InterContinental Shenzhen and Crowne Plaza Guangzhou City Centre,
China, and received a presentation from the General Manager of
HUALUXE Yangjiang City Centre, Vincent Liang.
The Company Secretary regularly updates the Board on regulatory
and legal matters, or relevant changes, as part of meetings,
and Directors are encouraged to visit hotels across our brands,
both formally as part of meetings and informally.
Anne Busquet’s induction
Anne’s induction provided her with an understanding of IHG
and our business to enable her to contribute her knowledge,
skills and experience effectively to the Board, and a recap of
her responsibilities as a director of a public limited company.
The key areas included:
• information on the Group, its business and the markets in
which we operate, including the Group’s strategy, business
model and KPIs, key regions and operations, a financial
overview and financial segmental information, details of the
Group’s principal assets, liabilities and significant contracts,
and an overview of our brands;
• our approach to internal controls and our risk
management strategy;
• information on the Board, its Committees and IHG’s
governance processes, with a particular focus on the Audit,
Nomination and Corporate Responsibility Committees
in light of her appointment to these Committees;
• a reminder of the rules relating to maintaining the
confidentiality of inside information and restrictions in
dealing in IHG shares, together with a briefing of the policies
and procedures IHG has in place to ensure compliance with
such rules;
• meetings with members of the Board and the Executive
Committee, senior management from functions across
the Group, the external Auditor, our broker and capital
advisers; and
• visits to IHG hotels across our brands, touring the hotels
and spending time with our General Managers.
As Anne’s corporate governance exposure at the time of her
appointment focused on US rules and requirements, her
induction also included a face-to-face session with the Company
Secretary on the key differences in corporate governance
standards followed by US companies and companies operating
in the UK regulatory environment.
Director induction, training and development
STRATEGIC REPORT GOVERNANCE GROUP FINANCIAL STATEMENTS ADDITIONAL INFORMATIONPARENT COMPANY FINANCIAL STATEMENTS
59IHG Annual Report and Form 20-F 2015