Barclays 2015 Annual Report Download - page 63

home.barclays/annualreport Barclays PLC Annual Report 2015 I 61
The Committee’s work
The significant matters addressed by the Committee during 2015 are described below:
Area of focus Matter addressed Role of the Committee Conclusion/action taken
Board appointments The refreshment of Board and Board
Committee membership to secure
individuals with the desired skills and
experience needed on the Board in
light of future strategic direction.
 Conducted a search for successors
to Sir Michael Rake and Antony
Jenkins.
 Evaluated a gap analysis of the skills
and experience on the Board and
identified the requirement for new
non-executive Directors with
financial services experience and
the preference to appoint more
UK-based Directors given the time
commitments associated with
Board Committee appointments.
The Committee recommended the
appointments of Sir Gerry Grimstone as
Deputy Chairman and Senior
Independent Director, Jes Staley as Group
Chief Executive and Diane Schueneman
as a non-executive Director.
Please refer to pages 63 to 65 for details
of the Board’s approach to recruitment of
new Directors and the case study of the
recruitment of Jes Staley in particular.
Board and Board
Committee structure,
size and composition
The restructure of the Board and
Board Committees to allow the Board
to focus on the Group’s commercial
and strategic performance.
The optimum size of the Board, the
potential impact of structural reform
and the need to constitute subsidiary
boards.
 Reassessed the structure, size and
composition of the Board and Board
Committees, as well as the current
roles and responsibilities of the
Board Committees, and
recommended a number of changes
to the Board.
 Requested a working plan for Board
succession over the next three
years.
The Committee agreed that the size of
the Board should be reduced over time
and more matters should be delegated
to the principal Board Committees. The
Committee agreed that non-executive
Directors should normally not serve on
more than two Board Committees, to
avoid being over-stretched, and to
reduce the Committees in size over time
to a maximum of four members, while
taking care to ensure appropriate
cross-membership. The Committee
recommended revised Board-level
responsibilities for oversight of risk,
including the Board re-taking overall
responsibility for enterprise-wide risk,
disbanding the Board Enterprise Wide
Risk Committee and reallocating
responsibility for oversight of the capital
and financial aspects of operational risk
to the Board Risk Committee.
Succession planning
and talent
management
The management of Board succession
and oversight of the leadership needs
of the Group to enable it to meet its
strategic aims and its changing
make-up resulting from the effects of
structural reform.
 Examined regular reports on
succession plans and talent
management of the leadership of
the Group to address succession
planning in the short-term and
internal talent development.
 Debated options for Directors to
engage with members of the Group
Executive Committee and senior
management to help in nurturing
high potential individuals and to
support building a stronger
succession pipeline.
The Committee agreed a proposal for
Committee members to partner high
potential senior management. The
Committee endorsed the Group’s rapid
development programme for high
potential talent and agreed to support
the programme by providing an insight
into the role of the Board and its
priorities. The Committee also endorsed
the introduction of an improved talent
assessment process and assessed the
efficacy of the Group’s external talent
acquisition process. The Committee
examined the results of internal and
external benchmarking exercises,
including external benchmarking of
senior management roles against similar
roles in equivalent companies as part of
the work on Group Executive Committee
succession.
The Strategic Report Governance Risk review Financial review Financial statements Shareholder information