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Governance Policies and Statements

 
 
 
 

Code of Conduct

As a business we will always comply with the law wherever we operate. Our code of conduct sets out the standards of behaviour all employees are expected to follow and provides useful guidance to help employees when it comes to making the right decision.

The Code is made up of 10 key elements:

  • Speaking up
  • Working with each other
  • Creating a safe workplace
  • Focusing on food safety
  • Acting honestly and complying with the law
  • Keeping Company information confidential
  • Competing fairly
  • Avoiding conflicts of interest
  • Working with customers and suppliers
  • Respecting the environment

A copy of this Code is provided to all employees. Managers have additional responsibilities to lead by example and to ensure that any issues raised by team members are followed up appropriately.

Premier Foods Code of Conduct - rev 2016

 

Diversity

When selecting a new director the Board considers a broad range of skills, backgrounds and experience, reflecting both the type of industry and the geographical locations in which we operate. The Committee is also mindful of the benefits that an inclusive culture can bring to our organisation as a whole and further information on our approach to diversity and inclusion can be found here.

In 2011, the Board adopted a policy to have at least two female Board directors by 2015 and this target was successfully achieved in May 2013. Whilst we have had two female Board members since 2013, following the Board changes announced in February 2019, the number of female directors has currently reduced to one. The Board remains committed to its policy on diversity and intends to remedy the situation as soon as is practicable.

Details of our gender diversity across senior management, central functions and the Group, as at 31 March 2019, is set out below.

gender_diversity_chart.jpg


Articles of Association

The Articles of Association are the Company's internal rulebook and regulate the internal management of the Company setting out how decisions are made. It deals with matters such as the rights of shareholders, the appointment and removal of directors, the conduct of the board and general meetings and communications by the Company.

The Company adopted the current Articles of Association at the General Meeting held on 20 March 2014. 

Premier Foods PLC - Articles - rev March 2014

 

Terms of Reference

The Board has established the following Committees to oversee and consider certain important areas in more detail than the Board:

  • Audit committee
  • Nomination committee
  • Remuneration committee

These Committees operate within defined terms of reference which set out the specific roles and responsibilities of each Committee. The Committees terms of reference are available below.

Audit Committee Terms of Reference - rev 2018

Nomination Committee Terms of Reference - rev 2016

Remuneration Committee Terms of Reference - rev 2018


Tax Strategy

We have established a tax strategy to formally record the Group’s approach to compliance, governance and the objectives of the tax function. This is available following the link below:

Tax Strategy 
 

Section 430(2B) Companies Act Statements

Details of any payments to former directors can be found by following the link below:

Section 430(2B) Companies Act 2006 - Statements