The Essentra Board is accountable to all the Company's stakeholders, as well as shareholders, for the standards of governance which are maintained across Essentra's diverse range of international businesses.
Essentra is committed to high standards of corporate governance, corporate responsibility and risk management throughout the Company.
During the year, Essentra was and continues to be subject to the UK Corporate Governance Code (“the Code”) 2016 published by the Financial Reporting Council (“FRC”), a copy of which can be found on its website www.frc.org.uk.
The Board has reviewed its operations and governance framework and confirms that, as at the date of the 2017 Annual Report, the Company has complied with the provisions set out in the Code.
The Company applies the Code’s principles of openness, integrity and accountability through its own behaviour, corporate governance best practice and by adopting, as appropriate and proportionate for a company of the size and nature of Essentra, recommendations of relevant professional bodies.
The Board is collectively responsible for the long-term success of the Company, and its role is to provide entrepreneurial leadership within a framework of prudent and effective controls, which enables risk to be assessed and managed in the pursuit of the Company’s strategic objectives.
The Board believes that it and its Committees have the appropriate composition to discharge their respective duties effectively with the appropriate level of challenge and level of independence, and that the members of the Board in conjunction with the senior executive teams are well equipped to drive, and are capable of delivering, the Company’s strategic objectives. The Board is of the view that it has a highly competent Chairman who, together with each of the other Non-Executive Directors, has considerable international experience at a senior level in the management of activities broadly similar to those carried out by Essentra and the material issues likely to arise for the Group.