Maintaining the highest standards of governance is integral to the effective delivery of our strategy. It ensures that the Board takes decisions that create sustainable long-term value for the mutual benefit of our customers, the communities we serve, our employees and shareholders.
IPF plc is subject to corporate governance requirements in the UK. We constantly keep corporate governance arrangements under review and our compliance with these requirements is detailed within the corporate governance section of our latest Annual Report and Financial Statements. We conduct our operations in accordance with internationally accepted principles of good governance and best practice, whilst ensuring compliance with the corporate governance requirements applicable in the countries in which we operate.
The Board has ultimate responsibility for the management, culture, direction, performance and long-term success of IPF. The Board comprises both executive directors and a majority of independent non-executive directors. The Board has, in turn, established four Board committees to assist in discharding its responsibilities.
The Board delegates certain matters to its principal committees and delegates the execution of the Company’s strategy and the day-to-day management of the business to the Chief Executive Officer, who is assisted by other members of the executive leadership team. Where the Board has delegated its powers in this way, it supervises the execution of its responsibilities by the Chief Executive Officer and is ultimately responsible for the fulfilment of the Board’s duties by him.
The Code of Ethics represents the standard of conduct which all IPF employees are expected to meet. It forms the benchmark against which stakeholders are invited to judge IPF and its employees' actions. The code of ethics must be adhered to strictly and such compliance is an essential element of our business success.
