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Governance

The Board of Directors works with 3i’s management to ensure that the business possesses the necessary financial and human resources to execute its long-term strategy and promote its long-term success.

Responsibilities of the Chair

Leads the Board and is responsible for its overall effectiveness in directing the Company.
Leads the Board in its oversight of the Company’s purpose, values and culture.
Leads the Board in setting its agenda, approving strategy, monitoring financial and operational performance, and establishing the Group’s risk appetite.
Organises the business of the Board, ensuring the Company’s effectiveness, and the maintenance of an effective system of internal controls.
Ensures that Directors receive accurate, timely and clear information. This includes ensuring that the non-executive Directors receive regular reports on shareholders’ views on the Group.
Responsible for the composition of the Board, facilitates constructive Board relations and the effective contribution of all non-executive Directors.
Leads the annual Board and Board Committee evaluation process.

Responsibilities of the Chief Executive

Direct charge of the Group on a day-to-day basis and is accountable to the Board for the financial and operational performance of the Group.
Chairs the Investment Committee to review the acquisition, management and disposal of investments.
Leads the Executive management team to develop and implement the Group’s strategy and manage the risk and internal control framework.
Reports to the Board on financial and operational performance, risk management and progress in delivering the strategic objectives.
Regularly engages with shareholders and other key stakeholders on the Group’s activities and progress.
Oversees the implementation of the ESG strategy.
Oversees the Group’s values and culture.

Role of non-executive Directors

Provide constructive challenge, strategic guidance and hold management to account.
Scrutinise the performance of management in meeting agreed objectives.
Seek assurance on the integrity of the financial information and that financial and non-financial controls and systems of risk management are robust and defensible.
Determine appropriate levels of remuneration for Executive Directors and Executive Committee and together with the Chair, have a prime role in appointing Directors and in succession planning for the Board.
Ensure that they have sufficient time to meet their Board responsibilities.

Role of the Senior Independent Director

Provides a sounding board for the Chair and serves as an intermediary for the other Directors and the shareholders.
Leads succession planning for the Chair.
Leads the Chair’s performance review and the annual review of the continued appropriateness of the Chair’s appointment.