The Board
The Board has the responsibility to:
1.
Ensure that the Group has in place at all times a strategy that is capable of delivering realistic returns to shareholders.
2.
Continue to organise and monitor the performance of Group’s operations through the Divisional structure.
3.
Keep that structure under review and be prepared to change the number and nature of the Divisions in order both to take account of market opportunities and also to deal with management issues.
4.
Clarify any ambiguities in the authority, responsibilities and obligations of the various parts of the Divisions both in terms of managing their businesses and reporting upon those businesses.
5.
Keep under review the composition of the Divisional Management teams and monitor their performance, being prepared to make changes in order to maintain or improve performance in terms of both delivery to clients and financial results.
6.
Ensure the Group and Divisional Boards have policies in place to attract and retain high quality staff.
7.
Manage and promote the RPS brand vigorously and vigilantly, by ensuring it has an adequate profile amongst the client base, is respected and strengthened.
8.
Keep under review opportunities to extend the range of products RPS offers and the sectors in which it operates.
9.
Keep under review opportunities to extend the geographic areas in which RPS operates.
10.
Ensure that the Board has available an appropriate and effective advisory team including brokers, financial advisers, auditors, lawyers and financial public relations.
11.
Together with our brokers, maintain an active Investor Relations programme designed to ensure full exposure of the RPS investment case to appropriate fund managers in the UK, Europe and USA.
12.
Maintain contact with a wide range of analysts and brokers to ensure current independent research is available to the market.
13.
Maintain systems of corporate governance compliant with the Combined Code and appropriate for a company of RPS’ type and size. Discuss these matters with major shareholders on a regular basis.
14.
Ensure that the Group operates appropriate risk management systems in respect of all aspects of its business.
15.
Ensure that the Group has in place IT systems appropriate for the proper operation of the business and its likely expansion.
16.
Ensure that the Group has in place both a web-site and an intranet that provides an effective communication medium for staff, clients and others with an interest in RPS.
17.
Ensure that the Group has sufficient and adequate funding in place to maintain its strategy
Composition and Operations
The Board currently comprises five
Executive and three Non-Executive
Directors excluding the Chairman. The
Executive Directors are responsible for
the management of all the Group’s
business activities. The Non-Executive
Directors are all independent of
management and contribute independent
judgement and extensive knowledge and
experience to the proceedings of the
Board. The Chairman was independent
on appointment.
The Board generally meets on a monthly basis (other than during holiday periods) and more frequently when business needs require.The Board has a schedule of matters referred to it for decision and the requirement for Board approval on these matters is communicated widely throughout the senior management of the Group. Its principal tasks are to formulate strategy and to monitor and control operating and financial performance in pursuit of the Group’s strategic objectives.
The Executive Directors meet at least once a month.The Executive Committee is responsible for all operational matters within the Group except in respect of any decision, or group of decisions, which could not be executed within the limit of funds available to the Group or which are likely to have a material effect upon the trading prospects of the Group.The minutes of the meeting are circulated to the Non-Executive Directors for review.