At Diageo, we believe good governance is not merely a compliance exercise but something that supports the long-term success of the company. We also recognise that the quality of corporate governance ultimately depends on how people behave: there is a limit to the extent to which policies and frameworks can deliver good governance.
As a UK company listed on the London Stock Exchange and on the New York Stock Exchange, Diageo is subject to corporate governance rules in both the United Kingdom and the United States. In general we follow UK corporate governance practice. More details of these can be found in the corporate governance section of our annual report.
Themes in corporate governance this year
Diversity on boards of directors and elsewhere in corporate life continues to be a significant theme in corporate governance. At Diageo, we have long believed that supporting and respecting all aspects of the diversity of our people is an important contributor to business performance as well as being the right thing to do. There are currently five nationalities represented on our board and four of the ten directors are women. In addition to the individual skills that each director brings, we continue to believe that their diversity as a group helps to provide an appropriate range of perspectives on business issues and an excellent balance of skills, experience, independence and knowledge of the company.
The Award recognised Diageo’s work over the last few years to foster good business practices in Africa...