CORPORATE GOVERNANCE The Board of Tyman plc is committed to maintaining the highest standards of corporate governance. The Board acknowledges the importance of the principles set out in the UK Corporate Governance Code (the "Code") issued by the Financial Reporting Council. The Statement of Governance in the Annual Report and Accounts explains Tyman's application of the Code. Board Committees The Board has an Audit and Risk Committee, a Nominations Committee and a Remuneration Committee. The existence of the Committees ensures that time is allocated on a formal basis to consider relevant issues. VIEW BOARD BIOGRAPHIES Committee overview Audit and Risk Committee Nominations Committee Remuneration Committee Board performance evaluation The Board undertakes a formal evaluation of its performance, and that of each Director, on an annual basis. The three principal Committees of the Board also undertake an annual evaluation of their effectiveness, in accordance with their respective terms of reference. The key observations, developments and recommendations arising from the evaluation are set out in the Statement of Governance in the Annual Report and Accounts. Managing risk The Group has policies and procedures in place to ensure that risks are properly identified, evaluated and managed at the appropriate level within the business. The identification of risks and opportunities, the development of action plans to manage the risks and maximise the opportunities, and the continual monitoring of progress against agreed plans are integral parts of the business process and core activities throughout the Group. Risk management responsibilities Responsible body Area of responsibility Board Formulates the Group's strategy and has overall responsibility for risk management including definition of the Group's risk appetite and culture. The Board delegates oversight of risk management to the Audit and Risk Committee. Audit and Risk Committee Regularly monitors the nature, extent and management of the Group's principal and emerging risks. Monitors and reviews the effectiveness of the Group's systems of risk management and internal control. Executive Committee Comprises Executive Directors and Divisional Presidents overseeing management of group-wide risks. Divisional management Implementation of the necessary systems of risk assessment and internal control. Regular review of risk registers and implementation of mitigation plans. Day-to-day operational management of risk. Risk management and internal control The Board has ultimate responsibility for the Group’s system of risk management and internal control with responsibility for oversight delegated to the Audit and Risk Committee which is responsible for maintaining and reviewing the effectiveness of our risk management processes from strategic, financial, operational and regulatory/compliance perspectives. Constitutional documents and policies Name File Articles of Association View file Certificate of incorporation on change of name View file TYMAN PLC 29 Queen Anne’s Gate London SW1H 9BU Tel: +44 (0) 20 7976 8000 LINKS Sustainability Data Table Modern Slavery Statement Gender Pay Gap Report SITE SERVICES Terms & conditions Privacy policy Cookie declaration Accessibility © 2021 Tyman plc. Site by Design Portfolio