Search search Menu  Corporate governance Home Investors Corporate governance Investors  COMPLIANCE WITH THE 2018 U.K. CORPORATE GOVERNANCE CODE A copy of the Financial Reporting Council’s 2018 U.K. Corporate Governance Code can be found at www.frc.org.uk. During the year ended 30 September 2020, we are pleased to report that UDG Healthcare plc applied all the principles of the Code and has complied with all the provisions except for Provision 38. Provision 38 provides that executive director pension contribution rates should be in line with those available to the workforce. Our Remuneration Policy, which was approved by shareholders on 28 January 2020, stipulates that executive director new joiners’ pension contribution rates will be in line with rates available in the wider workforce in the executive’s local market. The Remuneration Committee confirms that incumbent executive director pension contribution rates will also reduce from 1 October 2022 and furthermore, from 1 October 2020, shall be frozen at FY2020 levels. The table below summarises our key governance highlights throughout the year: Code section Key governance highlights during the year 1. Leadership & Company Purpose Successfully led the Group during the onset of the Covid-19 pandemic and continues to do so as the pandemic evolves. Facilitated several workforce engagement meetings with Designated NEDs in attendance and have started to work on the feedback received. Expanded the remit of the Nominations & Governance Committee to include responsibility for sustainability. The Board held two half-day strategy sessions in May and September. The Board continued to align the Group’s strategy with our purpose and values. 2. Division of Responsibilities Appointed new Independent Non-Executive Chair, Shane Cooke, on 1 October 2020. 3. Composition, Succession & Evaluation Initiated various Board changes to enhance composition and skill set, to continue into FY2021. Improved gender diversity on the Board by appointing two female NEDs in FY2020. Conducted an Internal Board Evaluation. 4. Audit, Risk and Internal Controls Implemented a process for identifying and assessing emerging risks. Commenced a review of the Terms of Reference for both the Audit Committee and the RIF. Committee to provide clarification on the responsibility for reviewing the risk management framework and acquisition/ disposal proposals. 5. Remuneration Agreed that pension contribution rates for incumbent executive directors would also be reduced from 1 October 2022 and furthermore, from 1 October 2020, shall be frozen at FY2020 levels. Implemented Board and SET temporary pay reductions in response to Covid-19 crisis. Download Annual Report 2020 POPULAR PAGES At a glance Our divisions Press Releases & News STAY INFORMED Sign up for email alerts GET CONNECTED OFFICE DETAILS UDG Healthcare 20 Riverwalk Citywest Business Campus Citywest Dublin 24 Ireland OTHER UDG HEALTHCARE WEBSITES OneAshfield Ashfield Advisory Ashfield Engage Ashfield Health Sharp As of 2020, UDG Healthcare received an MSCI ESG Rating of AA. © 2021 UDG Healthcare. All rights reserved. Cookie policy Privacy policy Terms & conditions Anti Modern Slavery Policy Supplier Code of Conduct Sitemap MSCI ESG Disclaimer By Emperor By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Cookies Settings Reject All Cookies Accept All Cookies