Experian 2016 Annual Report Download - page 60

“ Every company should be headed by an effective
board which is collectively responsible for the
long-term success of the company.”
Chairman’s introduction
Summary
Don Robert Chairman
On behalf of the Board, I am
pleased to present the Corporate
governance report for the year ended
31 March 2016. Effective corporate
governance, the oversight of which is
the responsibility of the Board under
my leadership, is a key foundation of
Experian’s strategic direction. It defines
the framework within which we can
develop our strategy, review critical
decisions, manage any challenges
that the Group faces and monitor the
Group’s performance on an ongoing
basis. As Chairman, I am responsible
for ensuring that the Board is
empowered and resourced to do these
things, and has the right combination
of skills and experience to provide
the leadership required to ensure
success for the business. The Board
is committed to good governance, and
to operating transparently, openly and
with integrity, and these principles are
embedded in the boardroom and in how
the Board operates.
Board focus during the year
A key Board focus for the year was
supporting management in the
numerous strategic, operational and
financial improvements being executed
by, or embedded throughout, the
business. The annual strategy session
in January 2016 was an important part
of this process, and allowed the Board
to critically analyse the progress made
against our previously stated strategic
priorities and to provide further direction.
Whilst a lot has been achieved this year,
there is still work to do to realise our full
growth ambition.
The Board, through the Audit
Committee, has also spent time during
the year enhancing elements of the
Group’s governance framework, either
in response to specific regulatory
developments, as a comprehensive
follow-up to the client-related data
security incident that affected the
Group in September 2015, or because
the Board continues to believe that
governance is important and should
not remain static. Initiatives included
developing risk appetite statements
for the Group, developing a Group tax
policy, working on a viability statement
and reviewing a number of Group
policies and enhanced controls.
This body of work in the area of controls,
and particularly risk tolerance, also feeds
into the Board’s responsibility for setting
the Group’s values and standards.
Establishing clear policies, standards
and guidance defines the parameters
within which the entrepreneurial and
risk-taking activities necessary for long-
term success must operate. Setting
values and standards, effectively the
culture, also means other things. For
example, work is ongoing on bringing
together the full power of Experian,
regardless of where capabilities sit
within the organisation, and using that
power to help our clients achieve their
goals. Initiatives in this space include
ensuring a single face for the business
and fostering a culture of collaboration
across One Experian.
(UK Corporate Governance Code, September 2014)
58 Governance •Chairman’s introduction