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Travis Perkins Plc
Investor Centre
Corporate Governance
Chairman and CEO responsibilities
Travis Perkins plc is committed to the highest standards of corporate governance.
Chairman and CEO responsibilities
Chairman/CEO Responsibilites
Chairman
Open
Set the timetable and agenda for Board meetings, taking account of issues raised by Board members.
Ensure that Board members receive accurate timely and clear information.
Chair the meetings of the Board and General Meetings
Chair the Nominations Committee and (if necessary) the Defence Committee and be a member of the Remuneration Committee.
Ensure sufficient Board or committee time for discussion of complex or contentious issues, with additional informal meetings for prior discussion if necessary.
Promote openness of debate at meetings and constructive relations between NEDs and executive directors.
Lead the Board in establishing and periodically reviewing the Group's values and behavioural standards
Meet separately with NEDs from time to time, including the Senior Independent Director.
Oversee the balance of membership of the Board and appointments to committees, and ensure that an appropriate succession planning process is in place.
Facilitate an annual Board evaluation process, including evaluation of Board committees and individual Board members, and ensure that appropriate actions are taken.
Facilitate a comprehensive induction programme for new directors, and committee members.
Identify the development needs of individual directors, and of the Board as a whole, and facilitate appropriate training.
Ensure effective communication with shareholders and an understanding of shareholder views by Board members.
Ensure that corporate governance requirements are properly addressed.
Ensure that the Board determines the nature and extent of the significant risks facing the Group, and receives regular reports in accordance with a process which is regularly reviewed.
Ensure that the Board committees have appropriate terms of reference
Ensure that the Board establishes and regularly reviews company strategy.
Ensure effective implementation of Board decisions.
Ensure consideration of an appropriate balance between stakeholders in the company.
Chair Charity Committee and procure periodic review of the company's charity policy by the Board.
Chief Executive
Strategic
Open
Have a thorough understanding of the company's business sectors and build close connections with suppliers and customers.
Make annual proposal to the Board on strategy, including growth targets, plus periodic updates.
Lead presentation of strategy and financial results to analysts, investors and potential investors.
Ensure implementation of the Board's policies in relation to corporate governance.
Ensure communication of the Group's Mission, Vision and Values and application of the Business Principles, and/or other behavioural standards.
Operations
Open
Chair the Executive Committee and communicate its decisions and recommendations to the board.
Act as executive chairman of the company's subsidiaries.
Present annually to the Board for approval, an annual operating plan (plus three-year strategy and financial plan), and ensure that company and business unit performance is reviewed monthly against the annual operating plan.
Present proposals on major investments or divestments to the Board and thereafter ensure a periodic Board review.
Review capex proposals in line with capex approval criteria and procedures from time to time.
Ensure high standard of service from business unit and head offices.
Take all reasonable measures to protect the Group's reputation
Ensure that the company complies with legal and regulatory responsibilities.
Establish operational policies and procedures (together with their application and periodic review).
Ensure that all reasonable measures and processes are in place to protect the health and safety of the Group's employees and third parties who come into contact with the Group's operations
Ensure the highest practicable level of productivity consistent with customer service.
Recommend membership of and representation on industry bodies.
Keep the chairman informed on all important matters.
Organisation and Systems
Open
Regularly review the organisational structure of the company.
Ensure regular review by the Executive Committee of major risks affecting the business, and procure reporting of such risks to the Board.
Ensure that management information systems accurately reflect trading performance and provide appropriate management information.
Ensure that IT development plans support the company's activities, including computer disaster recovery arrangements.
Establish business continuity plans in the event of a major disaster.
Ensure cooperation with the Internal Audit department and ensure appropriate action is taken in respect of procedural weaknesses. Promote high standards of conduct throughout the business, including application of the Business Principles.
Employees
Open
Ensure appropriate succession plans are in place for key managerial positions at all levels, including a suitable management trainee programme.
Ensure development and application of appropriate personnel and training policies, including annual appraisals.
Make recommendations to the Remuneration Committee on salary and other remuneration elements for senior management.
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