Leadership roles

There is a clear division of responsibilities at the head of the Company which is documented in the Group's Corporate Governance Framework. The Chairman has overall responsibility for the leadership of the Board while the Group Chief Executive manages and leads the business.

The responsibilities of the Chairman include:

• leadership of the Board;

• promoting the highest standards of corporate governance;

• lead the development of the Company’s culture by the Board as a whole;

• building an effective and complementary Board and, in conjunction with the Nomination & Governance Committee, leading Board succession planning;

• leading and, with the assistance of the Company Secretary, attending to the identification and provision of induction, training and development needs for Directors and the Board generally;

• setting the Board’s agenda;

• encouraging open dialogue between Directors and to this end, he meets regularly with the Non-Executive Directors in the absence of Executive Directors in private sessions; and

• ensuring effective communication with shareholders.

A summary of the key roles and responsibilities of Board members can be found in the Annual Report and Accounts.

The responsibilities of the Group Chief Executive include:

• managing the business of the Group in accordance with the strategy and long term objectives approved by the Board;

• making decisions on matters affecting the operation, performance and strategy of the Group’s business, with the exception of those matters reserved to the Board;

• the development and recommendation of objectives and strategy for the Group in the development of its business, having regard to the interests of shareholders, customers and staff, and to the Group’s public and social responsibilities; and

• coordinating all activities to implement the strategy and for managing the business in accordance with the Group’s risk appetite and business plans set by the Board.

A summary of the key roles and responsibilities of Board members can be found in the Annual Report and Accounts.