Good corporate governance is integral to all aspects of GMS’ business and the Board is accountable to all stakeholders for accurate and comprehensive financial reporting and achievement of the Company’s strategic goals.
The Board is committed to the highest standards of corporate governance and complies with the relevant requirements of the UK Corporate Governance Code published in July 2018 by the Financial Reporting Council. The Company will report to its shareholders on its compliance in accordance with the Listing Rules.
The UK Corporate Governance Code recommends that at least half the Board, excluding the Chairman, should be Non-Executive Directors whom the Board considers to be independent. The GMS Board has five Non-Executive Directors (including the independent Non-Executive Chairman) and two Executive Directors, with three of these considered by the Board as ‘independent Non-Executive Directors’ within the meaning of the UK Corporate Governance Code (excluding the Chairman). The directors are subject to annual re-election.