Corporate governance

Introduction from the Chairman, Sir John Armitt CBE

The Board believes that effective governance is essential to protecting shareholder value and the sustainable growth of the Group. We therefore seek to ensure that it is an integral part of the ‘way we do business’ and that it is fully embraced by all our employees.

As you will know, I have only recently joined the Board and took over from John Devaney as Chairman of the Company at the beginning of February this year. I would like to thank John for the leadership and commitment he has shown in ensuring that good governance is in place across the whole Group.

This section of the report and accounts explains the various aspects of the governance of the Company, including reports on the work undertaken in 2012 by the Board’s Committees.

The composition of the Board has continued to evolve. In addition to my appointment, Miranda Curtis retired from the Board and Jackie Hunt has joined it. It is important that the Board has the correct balance of skills and experience and that Board members work together effectively. I will endeavour to carry on the good work of your former Chairman in this area.

National Express supports diversity throughout the Group as well as the Boardroom. We work on the premise that talent has no age, race or gender and is not ruled out by disability. Our goal is for our people to reach their full potential and to give of their best as individuals and in teams.

In 2011 the review of the performance of the Board was carried out by an external facilitator and in 2012 the review was carried out internally. Both reviews confirmed that the Board continued to operate effectively; further details of the recommendations that came out of these reviews are set out here.

A description of the subjects considered by the Board in 2012 are set out here and it is likely we will have another busy year in 2013 as we wrestle with the ongoing difficult macro-economic climate and continue to seek to grow the Group.

We continue to monitor the developments in corporate governance practice and will aim to comply with the new UK corporate governance requirements that come into effect in 2013.

I would like to encourage you to attend our annual general meeting at 2pm on 9 May 2013 at Kings Place, 90 York Way, London N1 9AG and I look forward to meeting many of you that day.

Sir John Armitt, CBE
Chairman

Read more information on our:

• Governance framework
• The Board
• Committees
• Risk
• Terms of reference
• Internal Control
• Terms and Conditions of Appointment of Non Executive Directors
• Remuneration consultants

Download our presentation on The Board of Directors and its Corporate Governance