Board diversity

Our Non-Executive Directors come from broad industry and professional backgrounds, with varied experience and expertise aligned to the needs of our business.

The Board appreciates the benefits of diversity in all its forms, within its own membership and at all levels across the Group.

The Board promotes inclusion and diversity and encourages initiatives to enhance inclusion and diversity in senior management roles, in areas including gender, ethnicity and nationality.

Women represent 50% of our Board and six different nationalities are represented on our Board members: American (4), Brazilian (1), British (1), Canadian (1), Turkish/British (1) and French (2).

The Nominations Committee is responsible for regularly reviewing the composition of both the Board and Management Board to ensure both boards have an appropriate balance of skills, expertise and knowledge, and ensuring that all appointments are made on merit against objective criteria and with due regard for the promotion of inclusion and diversity.

Our Board Diversity & Inclusion Policy sets out the Board’s commitment to the following objectives:

• Generally fostering an inclusive culture within the Group and leading by example.
• Considering all aspects of diversity when reviewing the composition of, and succession planning for, the Board, its Committees and the Management Board.
• Considering a wide and gender-balanced pool of candidates for appointment to the Board.
• Maintain at least 40% representation of women on the Board.
• At least one of the following senior positions on the Board to be held by a woman: Chair; Senior Independent Director; Chief Executive; Chief Financial Officer.
• Maintain at least one Director of a minority ethnic background on the Board.
• Giving preference, where appropriate, to engagement of executive search firms accredited under Codes of Conduct for Executive Search Firms which include commitments to furthering diversity.
• Supporting the oversight of the development of a pipeline of diverse, high-performing potential Executive Directors, Management Board members and other senior managers.

We are a diverse employer. As at 31 December 2023, 100% of key leadership teams have at least a 50% spread of distinct nationalities. The proportion of women in management roles was 42% and 33% on senior leadership teams. We are committed to increase these proportions to 45% and 40% (respectively) by 2025. 

For more information, see our Diversity & Inclusion Report for 2023.