A formal board charter confirms that the directors are accountable to shareholders and are responsible for the following:
A clear division of responsibility is embedded in the board charter, with the board chaired by an independent non-executive chairman. The board has delegated authority to the chief executive officer for the implementation of the strategy and the ongoing management of the business.
COMPOSITION AND DIVERSITY OF THE BOARD
Lewis Group has a unitary board structure consisting of six non-executive directors and two full-time, salaried executive directors. The board confirms that it has the appropriate mix of knowledge, skills, experience, diversity and independence to objectively discharge its governance role and responsibilities.
In November 2016 the board adopted a gender diversity policy to improve the representation of women on the board. In 2018, this policy was extended and the board adopted a combined gender and race policy to further improve diversity with a 25% target for both gender and race diversity on the board.