Board diversity

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 diversity and encourages initiatives to improve diversity in senior management roles, in areas including gender, ethnicity and nationality.

Women represent 50% of our Board and six different nationalities are represented among our Board members: American (4), Brazilian (1), British (1), Canadian (1), Turkish/British (1) and French (2). Additionally, women represent 13% of our Management Board.

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 benefits of diversity.

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

• 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 The 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.
• At least one Director of a minority ethnic background on the Board.
• Giving preference, where appropriate, to engagement of executive search firms accredited under the Standard and Enhanced Code of Conduct for Executive Search Firms.
• 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. 100% of key leadership teams have at least a 50% spread of distinct nationalities across our management employees. The proportion of women in management roles was 42% and 33% on senior leadership teams – we are committed to increase these by 2025 to 45% and 40%, respectively. To achieve this, we are focused on recruiting, developing and retaining the best female talent.