3/10/2024 0 Comments Gori halma court reportingAs reported last year, the Company undertook a review of its UK pension provision in 2021 and consulted with employees. The Company reports against the Financial Reporting Council’s (FRC) UK Corporate Governance Code 2018 (the Code), which is available at The Board considers that it has applied all Principles, and complied with all Provisions of the Code for the year ended 31 March 2023, with the exception of Provision 38, which requires that pension contribution rates for Executive Directors, or payments in lieu, are aligned to those available to the wider workforce. I, along with my fellow Directors, have absolutely no concerns on Jo’s performance as a Director of the Company or in her role as Chair of the Remuneration Committee. The Board is most appreciative of Jo’s leadership of the Committee and engagement with shareholders, and unanimously supported all decisions that were made. I am confident that our engagement – and in particular, an explanation of the rationale for the remuneration decisions made in 2022 which could not refer to the imminent succession plans that were to be executed – has addressed these concerns. Further details on the Remuneration Report vote can be found on page 138 of the Remuneration Report but, from my engagement with shareholders and proxy agencies on the specific objection to the re-election of Jo, the reason that a number of investors voted against her re-election was simply as a result of her position as Chair of the Remuneration Committee, which linked directly to their concerns on the Remuneration Report for the year ended 31 March 2022. As at 31 March 2023 the Board comprised seven non-executive Directors and four Executive Directors.įollowing the below 80% vote received on our Remuneration Report and the below 80% vote received on the reappointment of our Remuneration Committee Chair, Jo Harlow, we engaged with our major shareholders and the proxy agencies to better understand the reasons for their votes (if it was against) and any comments or concerns that they held on these two resolutions. The planning and execution of these succession plans have provided a smooth transition and continuity in a year of change. On behalf of the Board, I am delighted to welcome Steve to Halma. I would like to thank Andrew for his tremendous contribution to Halma’s growth during his 18-year tenure and congratulate Marc on his appointment.Īs part of the fulfilment of the executive succession plans, and following a robust selection process led by the Nomination Committee, Steve Gunning was appointed as Chief Financial Officer on 16 January 2023. The Board were delighted to announce Marc Ronchetti’s appointment as CEO Designate and from 1 April 2023, as Group Chief Executive. Prior to Andrew’s formal decision to retire, the Board, supported by the Nomination Committee, had conducted a thorough selection process to identify Andrew’s successor as Group Chief Executive. We announced in June 2022, that Andrew Williams would be retiring as Group Chief Executive on 31 March 2023. Renamed our Medical Sector to Healthcare, to more closely align with our purpose and reflect our wider growth ambitions.Agreed our reporting as aligned to the Taskforce for Climate Related Disclosure (TCFD) Framework.Reviewed the work undertaken to estimate our Scope 3 emissions.Reviewed climate risks and opportunities and performance against our non-financial KPIs.Completed seven purpose-aligned acquisitions in the year.Appointed Steve Gunning as Chief Financial Officer in January 2023, in place of Marc.Appointed Marc Ronchetti as Group Chief Executive from 1 April 2023, to succeed Andrew Williams.I am pleased to report that we have made good progress against all of these priorities, as follows: Refocus on the Medical Sector strategy, following changes to the leadership structure.Further embed sustainability into our business and monitor progress against our non-financial targets.Support M&A activity that is aligned to our purpose.To keep the talent pipeline under review at Executive Board level and one level below. ![]() ![]() Last year the Board set the following priorities for the year ahead: This Report outlines the governance framework within which the Company operates, how it has supported the Board’s strategic activities during the year and how the Principles set out in the UK Corporate Governance Code 2018 have been applied. Environment Commitment Statement and Supplier Statement.Our sustainability approach and progress.Our markets and their long term growth drivers.
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