Bruce Wallace Associates London
Bruce Wallace Associates London

Blog

October 2020

12 October, 2020

Q: We have a new director joining our PLC board in January, what sort of information should I make available to her?

A: The UK Corporate Governance Code expects all directors of companies with a premium listing to have a "full, formal and tailored induction" and 2018 FRC Guidance proposes "a comprehensive, formal and tailored induction that should extend beyond the boardroom”.

ICSA guidance note Induction of directors (May 2015) contains a lot of practical advice on induction and suggests that the process should aim to build an understanding of the nature of the company, its business and markets, establish a link with the company's people and an understanding of the company's main relationships and ensure an understanding of the role of a director and the framework within which the board operates.

Induction will involve the provision of information, ensuring the new directors is introduced to key stakeholders and company advisers and may include site visits. Key aspects to cover include:

  • Explaining the director’s role and the legal framework and structure of the Group and providing a copy of the constitution documents and other key corporate documents.
  • Brief biographical and contact details of all directors, the company secretary and key executives.
  • Board meetings details and procedural information. Including copies of past board/committee meeting packs and minutes.
  • Supplying copies of Group governance policy documents (e.g. relevant internal rules and procedures of the company and the board, terms of reference, share dealing policy etc).
  • Presentations where senior management teams can brief the newly appointed director on the company's business, significant/emerging risks and key performance indicators.
  • Information on investors to aid understanding of the make-up of the company's shareholder base.

If you need any help with company secretarial or governance matters, please contact us. All our contact details are on our website www.brucewallace.co.uk

Martha Bruce

martha@brucewallace.co.uk

Susan Wallace

susan@brucewallace.co.uk

Chloe Higgins

chloe@brucewallace.co.uk

Adrienne Graham

Adrienne@brucewallace.co.uk

Anne-Marie Palmer

anne-marie@brucewallace.co.uk

Registered office:
118 Pall Mall
London
SW1Y 5ED.

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Company registered in England and Wales number 8254957

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