Bunzl is committed to high standards of corporate governance. We believe this is essential to achieving our objective of providing long-term shareholder value.
In this section you can read our latest Corporate governance report, find out more about our Board of directors, review the terms of reference for each of the Board Committees, obtain information on the responsibilities of the directors and read our Group tax strategy.
Board structure and committees
Board
Nomination Committee
Chair
- Peter Ventress
Members
- Lloyd Pitchford
- Stephan Nanninga
- Vin Murria
- Pam Kirby
- Jacky Simmonds
Key responsibilities
Reviews the structure, size and composition of the Board with regard to diversity and to ensuring a balance of skills, knowledge and experience.
Audit Committee
Chair
- Lloyd Pitchford
Members
- Stephan Nanninga
- Vin Murria
- Pam Kirby
- Jacky Simmonds
Key responsibilities
Reviews and monitors the integrity of the Company’s financial reports, risk processes and internal controls and the effectiveness of the internal audit function and external auditors.
Remuneration Committee
Chair
- Jacky Simmonds
Members
- Lloyd Pitchford
- Stephan Nanninga
- Vin Murria
- Pam Kirby
Key responsibilities
Determines the policy for executive director remuneration and sets all elements of the remuneration and benefits of the Chairman, executive directors and senior management.
Board Sustainability Committee
Chair
- Peter Ventress
Members
- Lloyd Pitchford
- Stephan Nanninga
- Vin Murria
- Pam Kirby
- Jacky Simmonds
Key responsibilities
Provides an oversight function to the Group Sustainability Committee and strategic advice to the Board on the principal objectives, targets and priorities of Bunzl’s sustainability strategy.
Board responsibilities
Board structure and committees
Board
Nomination Committee
Chair
- Peter Ventress
Members
- Lloyd Pitchford
- Stephan Nanninga
- Vin Murria
- Pam Kirby
- Jacky Simmonds
Key responsibilities
Reviews the structure, size and composition of the Board with regard to diversity and to ensuring a balance of skills, knowledge and experience.
Audit Committee
Chair
- Lloyd Pitchford
Members
- Stephan Nanninga
- Vin Murria
- Pam Kirby
- Jacky Simmonds
Key responsibilities
Reviews and monitors the integrity of the Company’s financial reports, risk processes and internal controls and the effectiveness of the internal audit function and external auditors.
Remuneration Committee
Chair
- Jacky Simmonds
Members
- Lloyd Pitchford
- Stephan Nanninga
- Vin Murria
- Pam Kirby
Key responsibilities
Determines the policy for executive director remuneration and sets all elements of the remuneration and benefits of the Chairman, executive directors and senior management.
Board Sustainability Committee
Chair
- Peter Ventress
Members
- Lloyd Pitchford
- Stephan Nanninga
- Vin Murria
- Pam Kirby
- Jacky Simmonds
Key responsibilities
Provides an oversight function to the Group Sustainability Committee and strategic advice to the Board on the principal objectives, targets and priorities of Bunzl’s sustainability strategy.
Board responsibilities
Board stakeholder engagement
Bunzl has a global and diverse community of stakeholders and the Board has identified those that it considers key as being customers, employees, shareholders, the environment, suppliers as well as the communities in which we operate.
We believe that to maximise value and secure our long-term success, we must engage proactively and constructively with our key stakeholders in order to establish a mutual understanding of both the Group’s and stakeholders’ views and objectives. By understanding our stakeholders, we can factor into Boardroom discussions and the Company’s strategic decision making the potential impact of our decisions on each stakeholder group and consider their needs and concerns in accordance with section 172 of the Companies Act 2006.
Remuneration Committee
The primary role of the Remuneration Committee is to determine the framework and broad policy for the remuneration of the Chairman, the executive directors of the Board and the senior management group directly below Board level. The Committee proposes the directors’ remuneration policy for shareholder approval. It also governs the implementation of the policy, ensuring that the remuneration of the executive directors and senior management supports the sustainable performance of the business and that it is aligned with the Company’s shareholders’ interests. The Committee considers market practice, shareholders’ views and the Group’s broader remuneration arrangements when setting the Group’s performance-related incentives and ensures compliance with UK corporate governance good practice.
Our remuneration principles:
- Materially differentiate reward according to performance
- Reward competitively to attract and retain the best talent
- Breakdown of fixed and variable pay to be appropriate to each role
- Framework to be transparent with clear line of sight from performance to individual outcomes
