The Company is committed to, and recognises the value and importance of, high standards of corporate governance. The Company complies with the UK Corporate Governance Code published by the Financial Reporting Council in July 2018 (the “UK Corporate Governance Code”).
As envisaged by the Corporate Governance Code, the Board has established the following committees:
- Audit Committee - Click here to read the Terms of Reference
- Risk Committee - Click here to read the Terms of Reference
- Nomination & Governance Committee - Click here to read the Terms of Reference
- Remuneration Committee - Click here to read the Terms of Reference
Each of these committees has formally delegated duties and responsibilities and written terms of references. From time-to-time, separate committees may be set up by the Board to consider specific issues, if the need arises.
Board Diversity Statement
Sanne Group plc (“SANNE”) fully endorses the recommendations made by Lord Davies of Abersoch and recognises the benefits of having diversity in the Boardroom.
SANNE’s success, competitiveness and ability to understand the needs of its clients are dependent upon its ability to embrace the benefits of diversity in the Boardroom. SANNE believes that effective Boards reflect differences in culture, gender, skills, background, regional and industry experience and other qualities. All of these factors are considered in determining the composition of the Board, and all Board appointments will continue to be made on merit, in the context of skills, diversity and experience.
All Board appointments are subject to a formal, rigorous and transparent procedure and are made on merit against a defined job specification and criteria. The Nomination and Governance Committee (the “Committee”) oversees all appointments. The Committee ensures candidates from a diverse range of backgrounds are considered on merit and against objective criteria and with due regard for the benefits of diversity on the Board, including gender.
We expect to make further progress as the business grows.
Modern Anti-Slavery and Human Trafficking Statement 2018
This statement is in response to Section 54, Part 6 of the Modern Slavery Act 2015 and sets out the steps that the Sanne Group is taking to ensure slavery and human trafficking is not taking place in our supply chains or in any part of our business. Click here to read our statement.
Human Rights Policy
Human rights policy states the requirement to treat everyone at SANNE, and everyone with whom we come into contact, with fairness, respect and dignity.
This policy applies to Sanne Group plc and its subsidiaries and every SANNE employee and all directors and officers, and in other business relationships to the extent possible and reasonable given SANNE s level of participation.
Our policy has six commitments:
- We conduct our business in a manner that respects the rights and dignity of all people, complying with all legal requirements.
- We respect internationally recognised human rights, as set out in the International Bill of Human Rights and the International Labour Organization’s declaration on Fundamental Principles and Rights at Work.
- We recognise our responsibility to respect human rights and avoid complicity in human rights abuses, as stated in the UN Guiding Principles on Business and Human Rights.
- We seek to prevent or mitigate adverse human rights impacts that are directly linked to our operations or services by our business relationships, even if we have not contributed to those impacts.
- We treat everyone who works for SANNE fairly and without discrimination. Our employees, contractors and suppliers are entitled to work in an environment and under conditions that respect their rights and dignity.
- We will seek to make contractual commitments with suppliers that encourage them to adhere to the same principles.
Equality and diversity are two of Sanne’s core values. As a people business, attracting, retaining and rewarding talent will be key to our continued success. SANNE, as an employer, is committed to equality and diversity and we are monitoring and analysing equal pay and gender pay across the Group. However, as an organisation with under 100 employees in the U.K. we are not required to report our gender pay statistics, and the small size of the London operation makes meaningful statistical analysis problematic.
We have reviewed our global workforce’s average hourly pay and this has indicated where males and females are doing the same job role, there are only small variances in pay, and in some instances (middle management roles) females are paid marginally more than their male counterparts.
However, across the Group as a whole, on average female employees are paid materially less than men as they occupy the more junior roles in the business and are under represented at the most senior levels. We are committed to ensuring greater gender balance as opportunities arise, and the Board has been discussing how we can achieve a better representation of women in senior roles. A programme of initiatives is being implemented, including changes to recruitment processes, flexible working policies and performance management, as well as the introduction of mentors for females identified as having senior management potential.
Philip Godley stepped down from the Board of Sanne Group plc on 1 January 2018, but remains an employee of the Group. He has received no payment for relinquishing the Board role, however he remains within the employment of SANNE and therefore retains his outstanding awards under the Performance Share Plan, which remain on the same terms as when originally granted.
Spencer Daley has stepped down as a Director of the Company on 2 October 2018, but remained an employee of the Group. He has received no payment for relinquishing the Board role, however, he remains within the employment of Sanne until 1 April 2019 and therefore will continue to receive his annual base salary of £210,000 and benefits on a monthly bases until that time. No bonus will be payable in respect of the proportion of 2018 worked. The outstanding deferred bonus share awards will lapse, although awards made under the Sanne Performance Share Plan for 2016 will vest at the normal vesting date of 30 March 2019 provided he is still employed at that time, subject to achievement of the relevant performance conditions. Sanne Performance Share Plan awards granted in 2017 and 2018 will lapse. Details of payments made to and receivable by Spencer Daley will be disclosed in the Directors’ Remuneration Report within the Company’s Annual Report and Accounts for the year ended 31 December 2018, as appropriate.