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Year in review

Chairman's statement 2018

The 2018 Chairman’s statement can be viewed here.

Chairman's notice

As Chairman, I am responsible for ensuring that the Board upholds high standards of corporate governance and that it operates effectively and efficiently.

Good governance is about the quality of the processes for making and implementing decisions, ensuring that there is an appropriate level of oversight and challenge, a focus on risks, a commitment to transparency and ensuring a culture of continuous improvement.

At PFK there is a commitment to high standards of corporate governance throughout the Company and this is reflected in our governance principles, policies and practices.

By bringing together Non-Executive Directors with diverse backgrounds and experience, we gain enormously from varied perspectives across a range of issues.

We believe that effective governance, not only in the boardroom but right across the business, produces a more cohesive working environment for all of our stakeholders and ultimately supports and enhances long-term performance.

Diversity

PFK believes that a diverse culture and perspective is a key factor in driving its success, and supports the principle of the Davies Report’s aspiration to promote greater female representation on company boards. Whilst all appointments are made on merit, one of examples of our commitment to diversity is that the Board currently has 3 female board members with the Executive members being an equal split of male and female. Overall the current Company split is 68% female 32% male.

Furthermore PFK believes diversity is much wider than gender. Diversity of thought is also hugely important amongst the Board. By bringing together Non-Executive Directors with diverse backgrounds and experience, we gain enormously from varied perspectives across a range of issues.

How the Board supports strategy

The Board spent a significant portion of its time during the year working together to develop a longer term strategy, whilst trying to ignore the shorter term concerns raised around Brexit and the ensuing negotiation period. On leading this year’s Board evaluation it was clear to me that the Directors felt that this strategic review and the continued evolution of the PFK Brand was carried out in a highly effective and collaborative way with appropriate challenge throughout.

Shareholder engagement

The Board regards engagement with stakeholders and investors as fundamental to maintaining an active ongoing dialogue with them and to understand their views.

Stephen Lancaster is the primary contact and will meet or discuss with the Company’s Shareholders or interested parties. Further meetings will also be held as required in advance of the AGM in May 2018.


JEANETTE BROWN
Chairman

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