The board comprises three executive directors and five non-executive directors (including the Chairman) who contribute a wide range of complementary skills and experience. Brief biographical details of each director are set out on the Executive Directors and Chairman and Non-Executive Directors pages, under About Close Brothers section of this website.
The board believes that there is an appropriate balance of executive and non-executive directors on the board, without one individual or small group dominating the board's decision-making process.
The board has determined its non-executive directors to be independent in character and judgement, with the exception of Jamie Cayzer-Colvin, who is not regarded as independent as he is an appointee of a significant shareholder. The non-executive Chairman, Strone Macpherson, was considered independent on his appointment as Chairman. The senior independent director is Bruce Carnegie-Brown.
The formal schedule of Matters Reserved for the board is designed to enable the board and executive management to operate within a clear governance framework. The schedule details the areas of the board’s focus which is on activities that enable it to promote shareholders’ interests, including the active consideration of strategy, the monitoring of executive action including sound systems of internal controls and ongoing board and executive management succession. The board has developed these principles to help it fulfil its responsibilities. The board regularly keeps its work and performance under review.
