CORPORATE RESPONSIBILITY REPORT 2009
We have a number of mechanisms in place to ensure that our business operates transparently, accountably and, as far as possible, without conflicts of interest.
Our governance
At Britvic, we are committed to running our business responsibly, managing our corporate responsibility programme effectively and listening to our stakeholders.
We have a number of mechanisms in place to ensure that our business operates transparently, accountably and, as far as possible, without conflicts of interest.
Board of Directors
Our Board of Directors, which sits at arm’s length from Britvic’s business operations, oversees the company’s performance and management. It ensures that the company adheres to the principles set out in the revised 2006 Combined Code on Corporate Governance. At present, there are seven Plc Board members including the Non-Executive Chairman, the Chief Executive, the Finance Director, three further independent Non-Executive Directors and the PepsiCo nominated Non-Executive Director.
The Board meets ten times each financial year and decides on a number of issues, including approval of annual and interim results, annual budgets, material acquisitions and disposals, material agreements and major capital commitments. The Board assesses business performance against an agreed budget on a monthly basis. It also reviews the company’s medium term plans at least annually.
Our Finance Director, John Gibney, is the Board level representative for corporate responsibility. His leadership ensures that the CR agenda is supported right from the top of the organisation.
Committees of the Board
The Board has a number of standing committees, such as the Audit Committee, the Nomination Committee and the Remuneration Committee. Each Committee meets several times a year. They are comprised of and chaired by Non-Executive Directors.
Shareholders
Our major shareholders, at 25 November 2008, included: Snowden Acquisitions Limited, AXA S.A., Standard Life Investments Ltd., Newton Investment Management Limited, PepsiCo Inc., Legal & General Group Plc and Aviva plc and subsidiaries.