Governance review
The Main Board operates a forward agenda of standing items appropriate to the Group’s operating and reporting cycles. Items requiring Main Board approval or endorsement are defined clearly. Other items are for monitoring or reviewing progress against strategic priorities, risk management or the adequacy of internal controls.
GOVERNANCE PRINCIPLES 1
Purpose and leadership As a specialist engineering and construction group, Keltbray has a clear purpose – To redefine the way sustainable development is delivered. The Group is actively developing a culture based on fulfilling this purpose through compliance with our core values. This purpose is clear, powerful, and relevant to the business challenges of today and tomorrow, and forms a compelling guide to the overall strategic goals of the Group and how they will be achieved. The Group’s Strategy for sustained growth – ‘Unleashing our Potential’ is driven by leadership focus on innovation and self-delivery excellence. Engineering expertise, coupled with adoption of new technologies and equipment, and a progressive people strategy develops talent, attracts the very best people available externally and improves the safety and overall wellbeing of all those who are affected by our business activities. This focus allows the Group to
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create a clear and sustainable competitive advantage in the demanding markets in which the business operates. The Board acknowledges the importance of engagement and dialogue with its employees and key stakeholders. If the purpose and strategy are to be achieved, they must be communicated to employees, and this is achieved through periodic CEO conversations with employee groups, supported by regular updates on the Group’s Intranet. Where safe and practical during COVID, members of the Main and Executive Boards have visited projects in order to explain the strategic agenda to all concerned. The Board sets and leads behaviours and culture to support the delivery of the strategy. In October 2020, the Board approved the introduction of a new single Code of Conduct, which sets out behaviours acceptable to Keltbray. The Code of Conduct defines Keltbray’s commitment to operating at all times in accordance with ethical standards and the behaviours that are expected of employees, supply chain partners and other stakeholders.
ACTIONS TAKEN – Approved the strategy: ‘Unleashing our Potential’: to promote profitable, sustainable growth by crossselling more integrated services to core customers and targeting this existing expertise into adjacent sectors – Approved the Group Strategic Report and Financial Statements Reports 2019 – Set the Group’s 2021 budget and five-year business plan – Approved the Group’s Corporate Purpose and reviewed and endorsed Group values – Approved the new Group Code of Conduct concept and the annual statements on the Group’s policies on anti-slavery and human trafficking, antibribery and corruption and the Group’s tax strategy, which can all be found on the Group’s website www.keltbray.com
Keltbray Group (Holdings) Limited Annual Report & Consolidated Financial Statements | 2020
