We recognise the importance of demonstrating to customers, regulators and other stakeholders that we operate to the highest standards of governance and transparency. We support the principles of good corporate governance set out in the UK Corporate Governance Code and have adopted our own Governance Code, founded on the governance obligations in our licence and the principles set out in Ofwat’s publication (January 2014): Board leadership, transparency and governance – principles. We last reviewed our Governance Code in March 2015, making changes to reflect the revised composition of our Board.
Our independent non-executive directors are the largest single group on our Board, compared to our executive directors and investor-appointed non-executive directors. Our independent non-executive directors therefore have a strong voice in the governance of our regulated business.
Alongside our Governance Code, we have published a number of other documents. These explain how our board and its committees operate, where decisions are taken and how our shareholders participate in certain key decisions relating to our business. We have also published the respective responsibilities of our Chairman and Chief Executive and the terms of appointment of our independent non-executive directors.
Further information about our governance is included in the Annual Report and Financial Statements of Affinity Water Limited and can be found in the Investor Relations section of this website.