RBS 2013 Annual Report Download - page 48
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Corporate governance
46
Senior Independent Director
Sandy Crombie, as Senior Independent Director, acts as a sounding
board for the Chairman and as an intermediary for other directors when
necessary. He is also available to shareholders to discuss any concerns
they may have, as appropriate.
Non-executive directors
Along with the Chairman and executive directors, the non-executive
directors are responsible for ensuring the Board fulfils its responsibilities
under its terms of reference. The non-executive directors combine broad
business and commercial experience with independent and objective
judgement and they provide independent challenge to the executive
directors and the leadership team. The balance between non-executive
and executive directors enables the Board to provide clear and effective
leadership across the Group’s business activities.
The standard terms and conditions of appointment of non-executive
directors are available on rbs.com or from RBS Secretariat.
Board Committees
In order to provide effective oversight and leadership, the Board has
established a number of Board committees with particular responsibilities.
Please see the corporate governance framework on page 38 for more
details. The work of the Board committees are also discussed in their
individual reports as follows
Nominations Committee - pages 50 and 51.
Group Audit Committee - pages 52 to 57.
Board Risk Committee - pages 58 to 63.
Group Sustainability Committee - pages 64 and 65.
Group Performance and Remuneration Committee - pages 66 to 90.
The terms of reference for each of these committees is available on
rbs.com and copies are also available on request from RBS Secretariat.
Group Secretary
Aileen Taylor is the Group Secretary and Head of Corporate Governance.
She is responsible for advising the Board on all governance matters and
for ensuring that Board procedures are followed. In conjunction with the
Chairman and the Group Chief Executive, she is also responsible for
ensuring that the Board receive accurate, timely and clear information,
particularly on the Group’s performance and matters reserved to the
Board; facilitating good information flows between Board members;
leading on the implementation of the recommendations from the annual
Board Evaluation and developing and maintaining the induction and
continuing professional development programme for directors. A key
element of the role is to ensure alignment between the Board and
Executive Management to ensure the appropriate escalation of issues to
the Board. Aileen also leads on all aspects of corporate governance
across the Group.
Conflicts of interests
The company has procedures in place to ensure that the Board’s powers
for authorising actual or potential conflicts of interest are operating
effectively. On appointment, each director is provided with the Group’s
guidelines for referring conflicts of interest to the Board. Each director is
required to notify any actual or potential conflicts of interest to the Board
for consideration and to update the Board on an ongoing basis when he
or she becomes aware of any changes.
The Board considers each director’s notification separately on the facts
and can impose conditions or limitations as part of the authorisation
process. Actual and potential conflicts of interest can be authorised by
the Board in accordance with the company’s Articles of Association.
Details of all conflicts of interest are recorded in a register which is
maintained by the Group Secretary and reviewed annually by the Board.
Board meetings
In 2013, nine Board meetings were scheduled and individual attendance
by directors at these meetings is shown in the table below. One of the
Board meetings took place overseas during the Board’s visit to the
Group’s US businesses.
In addition to the nine scheduled meetings, 35 additional meetings of the
Board and committees of the Board were held, including meetings to
consider and approve financial statements. The Chairman and the non-
executive directors meet at least once per year without executive
directors present.
Attended/
scheduled
Philip Hampton 9/9
Ross McEwan (1) 2/2
Nathan Bostock (1) 2/2
Sandy Crombie 9/9
Alison Davis 9/9
Tony Di Iorio 9/9
Robert Gillespie (2) 1/1
Penny Hughes 9/9
Brendan Nelson 9/9
Baroness Noakes 9/9
Philip Scott 9/9
Former directors
Stephen Hester (3) 7/7
Joe MacHale (4) 4/4
Art Ryan (3) 7/7
Bruce Van Saun (3) 7/7
Notes:
(1) Appointed to the Board on 1 October 2013. Nathan Bostock has since confirmed his
resignation although his leaving date is still to be agreed.
(2) Appointed to the Board on 2 December 2013
(3) Retired from the Board on 30 September 2013.
(4) Retired from the Board on 14 May 2013.