Governance and sustainability management

Our sustainability strategy is delivered within the standards of excellence we maintain for transparent governance, strong leadership and ethical values.

Governance

Sustainability has visibility at the highest levels of Carillion and is embedded within our culture of success. This provides a strong basis for the effective management of our strategy to become a more sustainable business.

Our Board is responsible for driving our commitment to sustainability, evaluating our performance and approving new sustainability initiatives. The Board comprises two Executive and five Non-Executive Directors (NEDs). The Chairman and each of the NEDs are considered to be independent of management. They each have substantial relevant experience.

As a publicly listed company, Carillion is subject to, and complies with, the provisions of the UK Corporate Governance Code. Since 2002, a formal and rigorous annual evaluation of the Board and its Committees’ corporate governance procedures has been conducted by the Chairman in conjunction with the Company Secretary. In 2012, the Board evaluation was facilitated by an external evaluator.

Remuneration

Carillion’s philosophy is that remuneration should be sufficient to attract, retain and motivate Directors of the quality required to run the company successfully, but that a company should avoid paying more than is necessary for this purpose. A significant proportion of Executive Directors’ remuneration should be structured so as to link rewards to corporate and individual performance.

Remuneration and other benefits are reviewed annually with regard to competitive market practice, external independent surveys (where considered appropriate) and pay and employment conditions of employees elsewhere in the company.

The level of fees currently payable to NEDs is based on independent external advice. The Remuneration Committee consists entirely of independent NEDs, and determines the policy for the remuneration of the Executive Directors and key members of the senior management team. The Remuneration Committee looks to independent external advisors to provide salary survey and benchmarking information as required.

Shareholder relations

We welcome and encourage engagement with shareholders. Contact details are available on all our corporate communications and our website.

The Board and our senior management team communicate regularly with our shareholders through:

  • our Annual Report and Accounts
  • our half-year report
  • regulatory announcements
  • presentations
  • site visits
  • meetings with current and prospective shareholders
  • our Annual General Meeting.

See our Annual Report and Accounts 2012.

“Right from our Board down to every single employee in our businesses across the world, we’re embedding our 2020 strategy into everything we do.”Richard Howson, Chief Executive

Richard Howson
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