Governance Structure of Marks&Spencer
Mark&Spencer Governance Structure
Corporate Governance
1. Group Board
The board's role is what management is doing, holding them accountable for performance against the targets and standards, probing and challenging their thinking to make sure that they are on the right track. The Board works closely with management in thinking through their direction and long-term plans, the opportunities, the risks and making sure we are developing the right management team for the future. The non-executives provide independent challenge and review, bringing wide experience, specific expertise and a fresh, objective perspective. As members of the Board Committees, they play a crucial role in undertaking detailed governance work with a particular focus on shareholders.
GROUP STRATEGY
1. Overall Group strategy and corporate vision, setting standards and creating a high-performance culture which maximizes value creation and minimizes risk.
2. Creation, acquisition or disposal of corporate entities or assets which are material to the Group.
3. Evaluation of the Group’s competitive position and opportunities arising from the strategies and strengths of competitors.
4. Development and protection of the brand, its values and business principles.
5. Extension of the Group’s activities into new business or geographic areas
2. Nomination & Governance Committee
To ensure that appropriate procedures are in place for the nomination, selection, training and evaluation of directors and for succession plans, with due regard for the benefits of diversity on the Board, including gender.
Terms of Reference
1. To receive a bi-annual Company Chairman's report on board structure, size, diversity (including gender), composition and succession needs, keeping under review the balance of membership between executive and non-executive and the required blend of skills, experience, knowledge and independence on the Board.
2. To ensure the Group’s governance facilitates efficient, effective and
Corporate Governance
1. Group Board
The board's role is what management is doing, holding them accountable for performance against the targets and standards, probing and challenging their thinking to make sure that they are on the right track. The Board works closely with management in thinking through their direction and long-term plans, the opportunities, the risks and making sure we are developing the right management team for the future. The non-executives provide independent challenge and review, bringing wide experience, specific expertise and a fresh, objective perspective. As members of the Board Committees, they play a crucial role in undertaking detailed governance work with a particular focus on shareholders.
GROUP STRATEGY
1. Overall Group strategy and corporate vision, setting standards and creating a high-performance culture which maximizes value creation and minimizes risk.
2. Creation, acquisition or disposal of corporate entities or assets which are material to the Group.
3. Evaluation of the Group’s competitive position and opportunities arising from the strategies and strengths of competitors.
4. Development and protection of the brand, its values and business principles.
5. Extension of the Group’s activities into new business or geographic areas
2. Nomination & Governance Committee
To ensure that appropriate procedures are in place for the nomination, selection, training and evaluation of directors and for succession plans, with due regard for the benefits of diversity on the Board, including gender.
Terms of Reference
1. To receive a bi-annual Company Chairman's report on board structure, size, diversity (including gender), composition and succession needs, keeping under review the balance of membership between executive and non-executive and the required blend of skills, experience, knowledge and independence on the Board.
2. To ensure the Group’s governance facilitates efficient, effective and