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Board Diversity Policy

On 15 September 2020 the Nomination Committee reviewed and recommended, and the Board approved, the updated Board Diversity and Inclusion Policy, following the changes to the 2018 Corporate Governance Code. A separate Stock Spirits Group PLC Equality and Diversity Policy applies to all employees in the Stock Spirits Group of companies.

The key statement and objectives of the Board Diversity and Inclusion policy are as follows:

The Board recognises the benefits of diversity and inclusion and will take into consideration diversity of skills, background, knowledge, international and industry experience, gender, race, social background, and cognitive and personal strengths, amongst many other factors, when seeking to appoint a new Director to the Board. Notwithstanding this, all Board appointments are always made on merit.

Objectives:

  • The Board should ensure an appropriate mix of skills and experience to enable an optimum Board and efficient stewardship. All Board appointments will be made on merit while taking into account individual competence, skills and expertise measured against identified objective criteria (including consideration of diversity).
     
  • The Board should ensure that it comprises Directors who are sufficiently experienced and independent of character and judgement.
     
  • With regard to gender diversity, the Board’s aim is to increase female representation towards the 33% recommendation in the Hampton-Alexander Review and will use opportunities to increase the number of female Board members over time where that is consistent with other skills and diversity requirements. Both the Nomination Committee and the Board will continue to be aware of the need to ensure the Group reflects a diverse workforce. When considering Board appointments and internal promotions, due regard will be given to the recommendations set out in the Davies Report and the UK Corporate Governance Code, along with ensuring that all appointments are offered on merit and to the best available candidate.
     
  • With regard to ethnic diversity, the Board will continue to monitor the requirements of the Parker Review for FTSE 100 Companies and include within discussions for developing a diverse and inclusive pipeline of talent at Board level.
     
  • In selecting candidates for Board positions, only use the services of those executive search firms who have signed up to the Voluntary Code of Conduct for Executive Search Firms as recommended by the Davies Report.