When it comes to governance – how decisions are made and who is accountable – we want to build for the long term in line with our core value of ‘setting the bar high’. So, we were thrilled that one of the biggest gains in our B Corp score in 2023 was in governance – where we saw a 114.6% increase.
This large jump was largely due to the completion of all 25 of the improvements we identified in our 2021 governance review. This included:
A clear succession plan: we addressed leadership succession, and our future leadership structure is starting to come together.
Launch of our senior leaders’ development plan: to equip and nurture our next generation of leaders and ensure we are developing internal pathways to senior leadership.
Establishing our risk committee: now fully functional, the role of the risk committee is to monitor the security of our data and assets.
Appointing a Chair for our independent remuneration committee: something that’s essential in an employee-owned business so we’re not “marking our own homework”.
Recruiting independent non- executive directors: we more clearly defined the roles of the independent non-executive directors, and we have recruited two high-profile individuals.
Our next steps
Our focus will move to the creation of a larger executive structure, with clearer roles and responsibilities – ensuring that we deliver on our strategy.
Our B Corp score increased by 114.6% in the governance category. To find out more, download our Impact Report 2023 – A big step forward.