Peachtree 2015 Annual Report Download - page 68

Tenure
75%
75%
25%
75%
25%
12.5%
12.5%
Gender
Executive/Non-executive
Focus of the Board for the year
In the year under review, the Board’s focus has been on strategy and
ensuring that the structures, capabilities and reports are in place to
support the Group strategy. The Board has received regular reports
from both the Chief Executive Officer and the Chief Financial Officer.
In particular, in response to continued external changes discussed
in the strategic report, time has been spent considering:
– Our evolving strategy as discussed at our capital markets day
– Our global products including our strategy around these
– Our payments businesses and our strategy around these businesses
– The areas of risk across our businesses
Actions taken to minimise theprincipal risks faced by Sage, as described
on pages36 to 43, have also been regularly discussed and the Board has
looked at succession issues, particularly in light of recent and on-going
changes within our executive teams.
The Board meets not less than six times per year. During this year,
it met six times.
Board composition
The Board is made up of the Chairman, Chief Executive Officer,
Chief Financial Officer and five independent non-executive directors.
The directors have a range of experience and can bring independent
judgement to bear on issues of strategy, performance, resources
and standards of conduct. This experience and judgement is
considered vital to our success. It is the balance of skills, experience,
independence and knowledge of those directors which ensures the
duties and responsibilities of the Board and its commiees are
discharged effectively.
The Board monitors the independence of its non-executive directors,
particularly those who have given long service. Having reviewed the
current Board, the non-executive directors are all considered to be
independent. Donald Brydon was considered independent at the
date of his appointment.
Ms Ruth Markland completed nine years of service on the Board
in September 2015. Her experience as the longest serving Board
member provides valuable insight, knowledge and continuity.
Having consideredMs Markland’s independent focus on the
issues which the Board addressesas evidenced by her contributions
at Board meetings, the Board unanimously considers that
Ms Marklandcontinuesto be independent.
During the year, Donald Brydon retired from his role as chairman of the
Royal Mail plc and became chairman of the London Stock Exchange plc.
Taking into account these changes,the Board considers Mr Brydon has
appropriate time and resource to devote to his role as chairman of Sage.
All directors are subject to election or re-election by shareholders
at each Annual General Meeting.
Diversity
The Board has due regard for the benefits of diversity in its membership,
and strives to maintain the right diversity balance. The Chairman seeks
to ensure that the composition of the Board includes individuals with
deep knowledge and experience, bringing a wide range of perspectives
to the business.
Sage continues to support the aims and objectives of The Davies Report
on Women on Boards. The Board, as at the date of this Annual Report &
Accounts, comprises 25% women (2014: 25%). The Board must continue
to provide strong leadership at Sage, and, therefore, continues to
appoint only the most appropriate candidates to the Board.
Whilst applying this policy in the Group, no measurable objectives
have been set. Further details of our policies in this area are set out
on page 54.
2015
0 - 2 years 75%
3 - 6 years 12.5%
7 - 9 years 12.5%
2015
Male 75%
Female 25%
2015
Executive 25%
Non-executive 75%
Corporate governance report continued
The Sage Group plc | Annual Report & Accounts 2015
66