Roles of the Chairman and Group Chief Executive
 

There is a clear division of responsibilities between the Chairman and the Group Chief Executive.  Details of the respective roles are reviewed by the Board at least annually and are included in the Board Governance Framework, the Board's operating manual.

• The Chairman is responsible for leadership of the Board, and is pivotal in creating the conditions for overall board and individual director effectiveness, both inside and outside the boardroom.  It is also the Chairman's responsibility to ensure effective communication with shareholders and to chair shareholder meetings.
• The Group Chief Executive is responsible for the day to day management of the business, in accordance with the strategy and long term objectives approved by the Board, incurring capital and revenue expenditure as appropriate to meet the objectives set out in the Group Business Plan, or as separately approved by the Board.  The Group Chief Executive may make decisions in all matters affecting the operations, performance and strategy of the Group's businesses, with the exception of those matters reserved to the Board or specifically delegated by the Board to its committees, executive committees or the boards of subsidiaries.