Role and responsibilities of the Board and its principal committees
The Board is responsible to shareholders for good corporate governance, setting the Group’s strategic objectives, values and standards, and ensuring the necessary resources are in place to achieve the objectives.
The Board comprised nine members for the majority of 2023 until the retirement of Ian Duncan in November, when the composition dropped to eight members. On 11 March 2024, the Board composition returned to nine members following the appointment of Jim Fairbairn as Group Chief Executive designate, now comprising six Non-Executive Directors and three Executive Directors, led by the Group’s Non-Executive Chair, Daniel Dayan, who also chairs the Nomination Committee. The outgoing Group Chief Executive is Stephen Harris, and the Senior Independent Non-Executive Director is Patrick Larmon, who took over the role from Ian Duncan from 31 May 2023. Kevin Boyd is Audit Committee Chair and Cynthia Gordon is Remuneration Committee Chair, having taken over this role from Eva Lindqvist from May 2023. Biographical details of all Directors in office at 31 December 2023 are given on pages 54 and 55 of the annual report. During the year the Board visited facilities in Surahammar, Sweden and Izmir, Turkey. Such events involve meeting with local management and the workforce to understand technical and operational performance more clearly in countries where Bodycote has a significant presence.
Role and responsibilities of the Board and its principal committees
The Board is responsible to shareholders for good corporate governance, setting the Group’s strategic objectives, values and standards, and ensuring the necessary resources are in place to achieve the objectives.
The Board comprised nine members for the majority of 2023 until the retirement of Ian Duncan in November, when the composition dropped to eight members. On 11 March 2024, the Board composition returned to nine members following the appointment of Jim Fairbairn as Group Chief Executive designate, now comprising six Non-Executive Directors and three Executive Directors, led by the Group’s Non-Executive Chair, Daniel Dayan, who also chairs the Nomination Committee. The outgoing Group Chief Executive is Stephen Harris, and the Senior Independent Non-Executive Director is Patrick Larmon, who took over the role from Ian Duncan from 31 May 2023. Kevin Boyd is Audit Committee Chair and Cynthia Gordon is Remuneration Committee Chair, having taken over this role from Eva Lindqvist from May 2023. Biographical details of all Directors in office at 31 December 2023 are given on pages 54 and 55 of the annual report. During the year the Board visited facilities in Surahammar, Sweden and Izmir, Turkey. Such events involve meeting with local management and the workforce to understand technical and operational performance more clearly in countries where Bodycote has a significant presence.
© 2024 Bodycote