Barclays 2014 Annual Report Download - page 63

barclays.com/annualreport Barclays PLC Annual Report 2014 I 61
Improvements to the Board
appointment process
Director induction Effective handling of
legacy issues
Dealing more strategically
with global regulation
2013 findings
To ensure that all Board
members are kept fully
informed of prospective
candidates and potential
appointments
2013 findings
To improve the on-boarding
process for new Directors,
including partnering new
Directors, if appropriate, with
longer-serving Board members
2013 findings
To assess and work through
legacy issues, including
responses to the Salz Report
2013 findings
To increase engagement and
to deepen the relationship with
the Group’s regulators
Actions taken in 2014
A number of Board
appointments were made in
2014 taking the new approach:
Steve Thieke brings additional
investment management and
risk expertise to the Board,
Crawford Gillies will succeed
Sir John Sunderland as
Chairman of the Board
Remuneration Committee, and
John McFarlane will succeed
Sir David Walker as Chairman
The Board was kept regularly
informed of the progress of
non-executive Director
searches, and the Chairman,
Chief Executive Officer and
members of the Committee
interviewed shortlisted
candidates
The Board Corporate
Governance and Nominations
Committee has also assessed
Group Executive Committee
succession plans
Actions taken in 2014
New Directors were offered the
opportunity to partner with an
existing Director as part of
their induction programmes
Following completion of the
programmes, we sought
feedback from the new
Directors and a number of
suggestions, including the
preparation of capital and
liquidity briefing papers were
taken forward
We asked Directors for their
views on potential topics for
training for the Board as a
whole. We also asked Board
Committee members for
suggestions for Committee-
specific training, which were
reflected in the 2014
programme
Actions taken in 2014
The Regulatory Investigations
Committee has provided
oversight of the resolution of
historical legal and regulatory
risks and there have been
regular reports to the Board.
The Board Audit Committee
and the Board discussed PPI
provisioning at length and
agreed additional provisions.
All of the Salz recommendations
were complete by the end of
2014, but require some further
embedding, with the Board
regularly updated on progress
Actions taken in 2014
Representatives from the PRA,
FCA and FRBNY have all
attended meetings and
presented to the Board during
2014 and the Board has been
fully engaged on meeting
regulatory expectations. The
Board was also regularly
briefed on the structural
reform agenda in both the UK
and the US
2014 findings
To continue to ensure that the
Board has sufficient visibility of
executive succession planning
and the talent pipeline
2014 findings
To extend the new Director
induction programme to
involve senior executives below
Group Executive Committee
level and to continue to
support new Board Committee
Chairmen
2014 findings
To continue to focus on the
existing priority of overseeing
the resolution of legacy issues
2014 findings
To continue to focus the
Board’s time on strategy and
strategic options
Actions to be taken in 2015
We will schedule a specific
in-depth briefing for the Board
on talent and succession
planning and specific follow on
updates as required
Actions to be taken in 2015
We will increase Directors’
interaction with members of
the Senior Leaders Group and
will continue to ensure that
Board Committee Chairmen
are provided with the right
support, resources and
information to enhance Board
Committee effectiveness
Actions to be taken in 2015
We will continue to progress
the resolution of historical
legal and conduct risks, with
appropriate oversight from the
Board and Board Committees
to ensure they are resolved in
line with the Group’s Values
Actions to be taken in 2015
As more clarity on the future
regulatory framework emerges
we will ensure that sufficient
Board time continues to be
devoted to debating strategy
and strategic options,
including leveraging the
collective perspectives of the
non-executive Directors
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