Corporate Governance Statement
The Group is committed to maintaining high standards of corporate governance and uses the Wates Principles as a guide to best practice for large private companies.
We aim to comply with the Principles wherever it is sensible and proportionate for us to do so, having regard to our ownership structure and the fact that The Council of the City of Manchester and IFM, as shareholders, make appointments to the Board.
The Board of Directors
The non-executive directors bring extensive knowledge, skills and experience, from both the private and public sector, to bear on the affairs of the Group. The non-executive directors who are not appointed by the shareholders exercise independent, objective judgement at meetings of the Board and Board committees. Together with the shareholder-appointed non-executive directors, they help develop and constructively challenge proposals on strategy, and scrutinise the performance of management in meeting agreed goals and objectives.
The Board meets formally at least six times per year and also on additional occasions to consider specific business matters. Arrangements are in place for the Chairman to meet with the non-executive directors without the executive directors present, such meetings being held as and when required.