BP 2015 Annual Report Download - page 71

Corporate governance
Executive directors are permitted to take up one external board
appointment, subject to the agreement of the chairman. Fees received for
an external appointment may be retained by the executive director and are
reported in the annual report on remuneration (see page 76).
Board diversity
BP recognizes the importance of diversity, including gender diversity, at
the board and all levels of the group. We are committed to increasing
diversity across our operations and have a wide range of activities to
support the development and promotion of talented individuals, regardless
of gender and ethnic background.
The board operates a policy that aims to promote diversity in its
composition. Under this policy, director appointments are evaluated against
the existing balance of skills, knowledge and experience on the board, with
directors asked to be mindful of diversity, inclusiveness and meritocracy
considerations when examining nominations to the board.
Implementation of this policy is monitored through agreed metrics. During
its annual evaluation, the board considered diversity as part of the review
of its performance and effectiveness.
We continue to support the UK government’s review of gender diversity
on boards, undertaken by Lord Davies in 2011, and maintain an aspiration
to increase female representation to 25%. At the end of 2015, there were
three female directors (2014 2, 2013 2) on our board of 15. Our nomination
committee remains mindful of diversity in considering potential candidates
for appointment to the board.
BP Annual Report and Form 20-F 2015 67