KFI 2013 NED Survey by Korn Ferry

The Class of 2013

New NEDs in the FTSE 350

www.kornferryinstitute.com

THE CLASS OF 2013

The Class of 2013 New NEDs in the FTSE 350

Contents Foreword ......................................................................................

Introduction & methodology .........................................................

The Class of 2013 ..........................................................................

Newcomers to FTSE 350 boards ........................................... 10 Primary career discipline ......................................................

Gender balance ...................................................................

Nationality and international experience ................................ 13 Digital experience ................................................................ 14 Executive board and PLC experience ....................................

FTSE 350 NEDs insights ................................................................ 15 Motivations to seek a FTSE 350 NED role .............................. 15 Induction process ................................................................ 16 Advice for aspiring NEDs .............................................................. 17 Case studies ................................................................................. 18 Allison Kirkby ...................................................................... 18 Jennifer Allerton .................................................................. 20 Keith Nicholson ................................................................... 22 Biographies of the Class of 2013 ................................................... 24

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Foreword Few things on any chairman’s to-do list are more vital to the company than ensuring it has an effective board. In my conversations with fellow chairmen the topic of board effectiveness is a frequent theme— including the importance of regularly reconsidering and updating the skills, experience, and therefore contribution the board needs from its members. It is always helpful therefore to receive the analysis and macro view that this Korn Ferry report provides. Looking in-depth at the new class of FTSE 350 non-executive directors brings to light how chairmen are approaching the challenge of implementing necessary changes in board membership and maintaining effectiveness of their boards. In my experience, one of the best ways for a board to keep up with and stay ahead of the pace of change is to ensure that it examines issues and opportunities through multiple lenses. By getting these different views, a board can have a richer and more challenging debate, avoid falling into a groupthink trap, and increase the likelihood that more options and possible outcomes surface in any discussion. Achieving this requires diversity of thought which is the product of board members who arrive with varied experience, perspectives, priorities and thinking styles —and who are prepared to challenge some accepted norms. So the fact that Korn Ferry has found that diversity among the new class of non executives declined in 2013 is somewhat disappointing. Of course this group represents only about one-sixth of the entire pool of directors in the FTSE 350, and Korn Ferry have not shown us the make up of the “legacy” non executives. Perhaps there is greater diversity in that bigger pool. However, as the report suggests, this segment of directors recruited into their first FTSE 350 directorship would seem indicative of broader trends at play.

Of course the headline grabbing statistic is that gender diversity amongst this group has fallenâ&#x20AC;&#x201D;and it is good to see early indications from Korn Ferry that 2014 looks better for adding more women to boards. However, there are other findings that are equally interesting, such as the increase in average age from 52 to 56, the concentration around finance and general management backgrounds, and the slow pace of development of digital experience in non execs. All of these point, at least superficially, to maintaining homogeneity rather than to consciously increasing diversity. The experience of both my executive and non-executive careers has taught me that diversity of gender, age, background and ethnicity can enhance diversity of thought. The Class of 2013 flags a number of themes that chairmen should bear in mind when considering the renewal of their own board. The business environment never stands still, and chairmen face an imperative to keep boards current.

Sir Peter Gershon CBE FREng Chairman, National Grid and Tate & Lyle

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Introduction & methodology Incremental changes—the small adjustments made en route to an end result—are useful early indicators of underlying thinking in business. With this in mind, Korn Ferry last year initiated research into who was being added to corporate boards of directors each year—specifically, those gaining their first non-executive director (NED) seat among the FTSE 350. With our “Class of” research now in its second year, we can identify some year-over-year movements that could be signals of incremental change. This report analyses the shifting appointment patterns and, by inference, the characteristics likely to be in high demand in NED recruitment in the short and medium term. We have also surveyed members of this Class of 2013 to better understand what motivated them to become NEDs and how they experienced the process of joining a board. This data is complemented by a handful of indepth interviews that provide more details on how these new NEDs view the process of securing a first appointment. In addition, short biographies of all members of the Class of 2013 are intended to be a useful reference for those involved in recruiting board directors, as well as new and aspiring NEDs. Our methodology comprised two distinct elements: •

Use of multiple secondary data sources to identify new FTSE 350 NED appointments and to identify the specific, relevant characteristics of each appointee, and

•

Primary research (including surveys and interviews to provide qualitative input from new joiners of FTSE 350 boards).

Using these data, we have analysed characteristics —including gender, age, professional background, nationality, international experience, and digital capability—of the 260 individuals who gained their first FTSE 350 NED seat in 2013 and compared the findings to the Class of 2012. Additionally, this year, we have also compared FTSE 100 and FTSE 250 appointments to uncover differences between large- and medium-cap companies.

The Class of 2013 The “Class of 2013” enjoyed a more favorable business climate in the United Kingdom than its predecessors. The UK economy grew by 1.9% in 2013, its strongest rate since 2007*. Debt markets steadied, market volatility reduced, and valuations improved—all contributing to a renewed appetite for IPOs and investments. In these healthier conditions, surprisingly, listed boards noticeably slowed their progress on the prominent issue of board diversity. There is broad consensus that diverse boards have many advantages: they are better at spotting opportunities and risks, guiding strategy, providing governance, and dispelling groupthink. Varying characteristics, backgrounds, career paths, and experiences—what Sir Peter Gershon describes as “diversity of thought” in the Foreword to this paper—make for productive board discussions. Following the review in 2011 by Lord Davies of Abersoch on the underrepresentation of women on UK PLC boards, there has been signficant pressure on companies to improve their gender diversity. The Female FTSE Report from Cranfield University and our own research by the Korn Ferry Institute suggest the Davies Report target of 25% female NEDs by 2015 is likely to be met. With the goal line in sight, however, efforts seem to have slackened. We found a large drop-off in the proportion of women in the Class of 2013: 28% compared with 47% in 2012**. Our analysis also revealed a less diverse class of first-time FTSE NEDs more generally. Particularly within the FTSE 250, the predominant profile remains a 50-something British male, most often from a finance or general management background. In fact, recruitment of tried and tested directors is on the rise: in 2012, 63% of first-time NEDs in the *source: Office for National Statistics ** Preliminary analysis of 2014 data shows an encouraging return to 2012 level of female appointments

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FTSE 350 had no prior executive experience on a PLC board; in 2013, that proportion dropped to 54%. One direct consequence of this is the increased average age of first-time FTSE 350 NEDs: 56 in 2013 vs 52 in 2012. We also compared the diversity (gender, career background, and nationality) of the Class of 2013 in the FTSE 100 to the FTSE 250 to see whether there were differences between large cap and medium cap businesses. In every dimension, the FTSE 250 sub-sector of the Class of 2013 is less diverse. Specifically: •

30% of the FTSE 100 NEDs are women as compared with 27% in the FTSE 250;

•

35% of the FTSE 100 NEDs were British compared with 67% in the FTSE 250;

•

31% of the FTSE 100 NEDs had prior listed board experience compared to 54% in the FTSE 250.

The number of new FTSE 350 NEDs with digital skills increased. However, the number of digital appointments is still relatively low given the growing importance of technology in the way companies interact with customers and suppliers. Of the Class of 2013, 8% (20 individuals) have digital experience compared with just 4% (eight individuals) in 2012. Overall, our findings suggest that after an increase in the diversity of new directors in 2012, appointments in 2013 reverted to a more traditional candidate profile—particularly among mid-cap companies. Most directors and chairmen acknowlege that a diverse board is beneficial in a global, tech-connected, rapidly changing business environment. However, this analysis appears to show that boards remain slow to change. To achieve greater diversity of thought, all those with accountability for board composition must approach director recruitment with a conscious intent to uncover the broadest possible base of new talent.

Newcomers to FTSE 350 boards There were 494 NED appointments to the FTSE 350 in 2013, 23% more than in 2012 (402). This can be explained, in part, by a resurgence in IPO activity: 15 newly listed companies joined the FTSE 350 in 2013 compared with seven the previous year. A higher proportion of NED appointments in the FTSE 350 went to first-timers in 2013 (53%) than in 2012 (48%).

Figure 1 Split of FTSE 350 appointments between those with experience and first-time appointees.

Previous FTSE 350 NED experience First-time FTSE 350 appointees

500 400 300 200 100 0

45%

48%

2007

2012

53%

2013

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Primary career discipline The two most prevalent career backgrounds in the Class of 2013 are finance and commercial/general management. Together they account for 74% of appointments during the year (71% in 2012). Finance expertise remains strongly in demand: 34% of new NEDs in 2013 and 43% in 2012 came from finance. A few other career disciplines are trending upward, including academic/ government at 6% (up from 3% in 2012), marketing at 4% (up from 3% in 2012) and human resources (3% in 2013, up from 2% in 2012). However, all of these categories represent a small proportion of the total. Flat or declining career disciplines include research/technology, legal, and strategy/consulting.

Figure 2 Primary career discipline of Class of 2007, 2012 and 2013.

Class of 2007

39%

24%

13%

11%

5% 3%

1% 1%

Class of 2012

42%

28%

10%

5% 6%

3% 2% 3%

Class of 2013

34%

40%

9% 6% 4% 3% 1% 3%

Banking & finance

Marketing/communications

Commercial/general management

Human resources

Strategy consulting

Research/technology

Academic/government

Legal

Gender balance Nearly half (47%) of the Class of 2012 was female. That number dropped substantially, with only 28% of appointments in the Class of 2013 going to women. The change was prevalent across the whole FTSE 350: only 30% of new FTSE 100 NEDs were women and 27% of the FTSE 250. As of the time of writing, we have also looked at the first three months of the Class of 2014 to see whether this backslide has continued. We note that, at least in the first quarter of 2014, ratios have returned to the 2012 level, with 46% of the new NED appointments being female. Examining the gender of the Class of 2013 split by career background, we see that the two primary disciplines—finance and commercial/general management—are heavily slanted toward male directors. The disciplines responsible for smaller numbers of NEDs, such as HR, research/technology, marketing, academia, or government, contribute more women. This can be explained by recognising that finance/general management have been traditionally male-dominated sectors. As a consequence, as boards look to hire NEDs with a financial or broader management background, they find a limited amount of women with such career experiences. An increased support to adding more women in financial/ general management executive roles would therefore likely translate into more diversity in first-time NED appointments. The Korn Ferry Institute extrapolated its findings to estimate whether the Lord Davies report’s target of 25% women on FTSE 100 boards by 2015 would be met. Consistent with the findings in Cranfield University’s latest Female FTSE Report, it looks likely that it will.

Figure 3 Primary career discipline of first-time FTSE 350 NEDs split by gender.

Men

Women

24%

28%

16%

64%

60%

76%

72%

84%

36%

40%

Banking/ finance

General management

Strategy consulting

Academic/ government

Marketing/ communications

100%

57%

20%

43%

80%

Research/ technology

Legal

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Nationality and international experience Similar to 2012, the Class of 2013 is dominated by British nationalsâ&#x20AC;&#x201D;54% and 56%, respectively, although for 2013 there is a marked separation between FTSE 100 (35% British) and FTSE 250 (67% British) companies. The representation of Americans and Continental Europeans is similar to 2012. The percentage of Asian appointments has risen only to 4%, a low proportion relative to the size of the opportunity that Asian markets represent. A partial explanation for this can be found in the logistical challenges of attending a large number of UK-based board meetings for Asia residents. The Class of 2013 has less international career experience than the Class of 2012 with 47% of last yearâ&#x20AC;&#x2122;s appointments having spent time working and living abroad compared with 54% in 2012.

Figure 4 Nationality of Class of 2012 and 2013.

Class of 2012

Class of 2013 1.9% 3.1% 3.8% 2.7% 0.8%

4.1% 2.6% 1.6% 1.0% 2.6% 0.5%

18.7%

16.5% 54.4%

56.2% 15.0%

14.5%

Latin America

Asia

Continental Europe

Africa

Australia/New Zealand

North America

Middle East

Not disclosed

Digital experience Korn Ferry Institute research in the UK and the US in 2012 highlighted a shortage of digital expertise on corporate boards relative to the scale of the opportunities and disruption which the digital revolution has brought to all sectors. In addition, the Korn Ferry Boardroom Pulse survey in April 2013 found that 44% of the FTSE 100 chairmen did not think that their companies were doing enough to take advantage of the Internet economy. That may be starting to change, albeit slowly. First-time NED appointments with digital experience more than doubled since 2012: 20 individuals (8%) of the Class of 2013 had digital expertise, compared with just eight (4%) in 2012.

Executive board and PLC experience The Class of 2013 has significantly more PLC experience than the Class of 2012: 46% compared with 37%. Also in this instance the analysis shows a marked difference between FTSE 100 and FTSE 250: only 31% of FTSE 100 first-time NEDs had prior PLC experience compared to 54% in the FTSE 250. Additionally, there has been a 3% increase in first-time NEDs with previous executive director experience: 56% of the Class of 2013, 9% of whom gained that experience in a FTSE 350 company. Other NEDs have served as executive directors within PLCs outside the FTSE 350, foreign listed, private, public sector or subsidiary companies.

Figure 5 Previous executive director experience of first-time FTSE 350 NEDs.

Class of 2013 9%

13%

24%

1% 3%

44%

Class of 2012 11% FTSE 350

11% 7%

Foreign Listed

Plc

14% 3% 7% Private

Public Sector

47% Subsidiary

None

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FTSE 350 NEDs insights The Korn Ferry Institute surveyed the members of the Class of 2013 to understand their motivations for becoming NEDs and their experiences in the hiring and onboarding process.

Motivations to seek a FTSE 350 NED role The reason most often identified by Class of 2013 members for becoming a NED was applying the lessons from their executive career and adding value to the board. Just over half the respondents were motivated by a desire for a plural career or to broaden their knowledge to further their executive career. Only 10% were attracted to a NED position to increase networking opportunities.

Figure 6 Why did you want to become a non-executive director? I believed I could add value from the lessons learned in my executive career 62% To commence a plural career and build NED portfolio 52% To broaden my understanding of business and governance to further my executive career 52% To add variety to my career 37% To increase my networking opportunities 10%

Induction process Of the Class of 2013, 59% found their board induction programme extremely helpful, 36% satisfactory, and 5% had no induction. At the same time, 32% thought that the programme had room for improvement. The most common comments concerned: •

Information provided in connection with pending issues and initiatives;

•

Lack of formality and structure of inductions;

•

A need to spend more time with the chief financial officer on financials;

•

A desire to meet other stakeholders including brokers and communications agency;

•

More opportunities to debrief and learn after first board meetings.

Figure 7 How would you describe your induction process?

Class of 2012

Class of 2013 36%

43% 59%

57%

Extremely helpful

Satisfactory No induction

Figure 8

Is there any way your induction could have been improved?

Yes

32%

62%

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Advice for aspiring NEDs Selected comments from the Class of 2013 in response to the question: “What advice would you give to aspiring NEDs?”

“Focus on sectors in which you have existing experience and expertise.”

“Think about what you have to contribute rather than what you expect to get out of it.”

“Realise you are seeking a job, albeit a part-time job, and approach your search accordingly. It takes time and effort to find the right NED role including homework on the companies, governance requirements, and meeting the right headhunters in the field.”

“Understand the requirements of the role including significant time and travel commitments and the governance risks and responsibilities.”

“Tailor your CV to a board role and make clear that is what you are seeking. Your CV needs to make clear what you’d bring to a prospective board, rather than describe your executive qualifications.”

“Do your homework. Businesses are looking for more specialist experience from NEDs but it’s not always clear who needs what. Use your network.”

“Persevere. Don’t get disheartened if you get rejected at first. It is a very competitive arena.”

Case Studies Allison Kirkby Allison Kirkby has just been appointed CFO of Swedish telecom operator Tele2, moving on from CFO with the Shine Group, the global TV production arm of 21st Century Fox. She spent more than two decades in a variety of senior operational and financial management roles. “In taking on your first role as an NED, you must make sure you have a chairman who will coach you, support you, and generally mentor you. And that’s something all chairmen must be willing to do to attract from a more diverse NED population. You should be able to feel that you can ask any question without feeling uncomfortable in doing so,” Kirkby said. In 2013 she took on her first PLC board role at Greggs, the bakery food onthe-go retailer, as the second female non-executive director on the board. “We have a forward-looking chairman—Ian Durant—who wanted a diverse board. He had been chairing the audit committee. But when he stepped up to become chairman, he hired me to take over his position,” Kirkby said. There was a transition period of five months, when Kirkby joined the board and before she moved up to chair the audit committee. She attended two board meetings as a NED before chairing any board committees, but now sits on the remuneration and nomination committees as well as chairing audit. “Having been on the board of a Prince’s Charity as a trustee and audit chair for over 12 years, I found I really enjoyed the opportunity to bring my experiences to the diversity of discussion and thought around the table. I first started doing this in my early 30s and since then I have also been thinking of the possiblility of a portfolio career later on,” Kirkby said.

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Kirkby has also had the experience of having her first approach for an NED position not come to fruition. “It’s a good experience to go through an interview whether or not you are successful, as the interview process for a NED position is very different than that for an executive one,” she said. In this case, the company chairman had specifically wanted a more diverse board and was seeking individuals without much prior board experience. But the company discovered a fraud that resulted in a profit warning and changed its approach. “An excellent piece of advice I was given was that a track record of good governance and a generally positive reputation of the company you advise in your first NED role is very important—especially if you are thinking of the audit committee” she said. It helped, Kirkby added, that Greggs has a very good induction programme for its boardroom. She also found audit chair training and networking programmes run by EY, KPMG, and the FRC very useful. “These events give you direct access to the experts but just sitting around a table with other people in the same position is hugely beneficial,” she said. Any advice for aspiring NEDs? “It has really helped me to have been on the board of a charity as an unpaid trustee in a supportive role to the CEO. But it is also very important to make sure that the environment you enter is one where you feel comfortable,” Kirkby noted. The chemistry can be crucial, she suggested. “You need to know it is a business to which you can contribute, but also challenge as needed,” Kirkby said. As for chairmen looking for NEDs, she advised looking at working executives. “Having someone on the board who is going through the same day to day challenges as the CEO and his/her executive team brings current and relevant expertise that can be complementary to NEDs who no longer have an executive career,” Kirkby pointed out.

Jennifer Allerton Jennifer Allerton had 38 years of experience in the executive world before she entered a UK boardroom as a non-executive director. She spoke to Korn Ferry about the transition. “Quite inadvertently, you could say that I set myself up perfectly to be a non-executive director. Of course, I wasn’t thinking like that at the time. I don’t think anyone goes through life thinking ‘when I’m 60 I would quite like to be a non-executive director.’ But in practice, for me it has been a smooth and welcome transition,” Allerton said. Allerton worked as a chief information officer across the globe with a number of multinationals, including Unilever and BOC. She retired from Roche (which did not permit executives to hold NED positions elsewhere) in 2012. After taking what she calls a gap year to travel, she was delighted to return to business in a different capacity. By the summer of 2013 Allerton had NED positions with Oxford Instruments and Aveva. On both boards she is the only female NED. “It’s business as usual. All my working life I have been used to being one woman to 200 men, so it’s no different. I do think I have been very lucky with these appointments, but at the moment—with my background—it’s a great time,” she said. The UK government’s 2011 review of women on boards by Lord Davies of Abersoch made a difference to her visibility, she said. But she also brings a technology background, experience in many different industries, multilinguistic ability, and international experience—a very strong combination. She laughs when her career is described as one of “seizing opportunity” but she does not disagree. “It’s certainly good advice if you want to be a NED. Women need to be brave and not to hesitate when offered opportunities. Using and maintaining existing contacts in business is very important,” she said. Search firms assisted her in securing her NED seats, but it helped that one of the chairmen was familiar with her. “At the end of the day it seems to be

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a pretty small world,” Allerton said. She arrived on her first boards without previous experience on PLC boards. “I made sure when I joined that I asked questions and I have been well supported with induction programmes, making sure I understood UK takeover rules, that sort of thing. As soon as you say you don’t understand, you tend to find other people agree that a training session would be helpful,” Allerton said. She stresses the importance of getting up to speed on understanding the business, and knowing the people involved in different stages who are relevant to its strategy. “I am good at strategy but I care passionately about people. We do spend a lot of time in the boardroom at the moment poring over the new requirements on audit and pay and having conversations with shareholders. But it’s also about making sure we have the time to kick the tyres of the business—and you do that by insisting on site visits as a NED,” Allerton added.

Keith Nicholson Keith Nicholson retired from KPMG after a 25-year career focused on the insurance and retail banking sectors. His portfolio career has seen him take on a number of senior independent director roles with private boards, including Equitable Life Assurance, Liberty Syndicate Management, and Wesleyan Assurance Society. He joined his first FTSE board, Just Retirement, as part of the 2013 listing. “I never set out to become a non-executive director on a listed company. I was looking for things that were interesting and different—that was the rationale. It’s the business that attracts me, not whether it’s listed or not. And I’ve joined at an interesting time. It would have been interesting anyway but given the current environment, it’s even more so,” Nicholson noted on his appointment. Nicholson took on his first private board role in 2009 just after his retirement from KPMG, joining Equitable Life Assurance, followed by an appointment at the Wesleyan Assurance Society. He is on both boards today, having transitioned into the role of senior independent director. “You have to recognise that the listed environment is very different from the unlisted. Having sat on both types of boards, the key differences are that you really know who your stakeholders are and you think about them in a different way,” he said. In his view, Nicholson’s private board experience facilitated his transition into the listed environment. “As an executive, you only tend to see one side and it’s useful to get some experience of an non-listed vehicle where you are out of the public’s eye to make that transition to non-executive. There is a transition; there is no doubt about it. My advice would be to find something out of the public domain before taking on a listed one. Having said that, there will always be individuals who go straight into a listed NED,” Nicholson said. On the topic of that transition, Nicholson’s move to the listed environment was facilitated through an induction process that consisted of two phases. “There is the first introduction phase, which is about the issues you need

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to know immediately to deal with things at a high level. The second phase is digging a bit deeper for example in the form of a committee. I haven’t finished my induction; in my view it is an ongoing process. I work out where I need better understanding and what questions I need to ask,” he said. “I’m also a fan of one-on-ones and I continue to educate myself, and that is something which is up to the individual director. It is also interesting to note that personal development is increasingly a topic of discussion for nomination committees, whether it’s been facilitated internally or externally,” Nicholson noted on the process of professionalisation of the non-executive role. In terms of general advice to chairmen and aspiring NEDs, Nicholson said that “the one thing people need to understand is that when you appoint someone to the board, it’s as much about the chemistry with the entire board as it is about their skills and background. One of the things to remember when attracting someone is that chemistry is the most important factor in attracting the right individual.”

Biographies of The Class of 2013 3i Group DAVID ALEXANDER HUTCHISON Currently Chief Executive of non-profit investment vehicle Social Finance. Previously, had a 25 year career with Dresdner Kleinwort where he was former Head of UK Investment Banking and a member of its Global Banking Operating Committee.

3i Infrastructure BEN LOOMES Currently Group Strategy Director for 3i Group since 2012. Managing Partner of 3i Infrastructure. Formerly Executive Director and Head of UK Business Services Coverage with Morgan Stanley and Principal with Greenhill & Co. focusing on European M&A.

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3i Infrastructure PAUL A MASTERTON AUDIT, MANAGEMENT ENGAGEMENT, NOMINATION AND REMUNERATION COMMITTEES Currently the Chairman of AIB International and Digital Jersey, as well as a Director of Jersey Development and Insurance Corporation of the Channel Islands. He is also Director of the Mauritian Wildlife Foundation. Commenced his professional career in 1980 with RR Donnelly where he held different positions, from Sales Representative to Sales Director for UK, Europe and Asia, Sales Manager New York, Business Development Director and other roles, becoming President of Europe in 2003. Appointed Chief Executive of the Durrell Wildlife Conservation Trust from 2008 to 2012.

Aberdeen Asset Management JUTTA AF ROSENBORG Currently Divisional Director of Carnegie Worldwideâ&#x20AC;&#x2122;s Investment Fund. Previously, Chief Financial Officer of Danish pharmaceuticals company ALK-Abello and Vice President of Group Accounting at Chr. Hansen Holding. Former Deloitte Auditor. Currently serves on the boards of Zealand Pharmaceuticals, Auriga Industries and Cheminova. Chartered Accountant.

Aberdeen Asset Management AKIRA SUZUKI Currently the General Manager for Fund Research & Development Division for the Mitsubishi UFJ Trust and Banking Corporation. Joined the Mitsubishi Trust & Banking Corporation following graduation and has worked primarily in asset management. Additionally serves on the Board of AMP Capital Holding since 2012.

Aberforth Smaller Companies Trust STEPHEN PAUL TRICKETT Former Managing Director and Head of EMEA Global Portfolio Solutions at Goldman Sachs Asset Management. Previously Head of EMEA Investment Practice at Towers Watson and Chief Executive Officer of British Coal Pension Scheme. Currently Chairman of WorkSave Master Trust at Legal & General and Chairman of Legal & General Trustees and Zurich Financial Services UK Pension Fund.

Afren SHEREE QUEEN BRYANT NOMINATION COMMITTEE Past roles include working with non-governmental organisations and policy think tanks such as the Social Policy Group, Junior League of London, Health Research Forum, CentreForum and C3 Health. Formerly Officer of the Commonwealth of Massachusetts to the Adolescent Health Council.

African Barrick Gold GRAHAM G CLOW Currently Director of Mining at URS, a role he has held since 2010. He also serves on the Board of Dominion Diamond as well as being an Adjunct Professor at the University of Toronto. Previously, he held a number of roles within Scott Wilson Group, most recently as the Director of Mining.

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African Barrick Gold PETER W TOMSETT Currently serves on the boards of Talisman Energy, Silver Standard Resources and North American Energy Partners. Previously, with Placer Dome since 1986 having held various general management and regional leadership roles in particular having had responsibility for Asia Pacific.

Al Noor Hospitals Group MUBARAK MATAR AL HAMIRI AUDIT AND NOMINATION COMMITTEES Currently serves on the boards of Sorouh Real Estate, Reem Finance and Royal Capital in addition to serving as the Managing Director of Royal Group. He began his career in international investment at the Private Department of H.H. Sheikh Zayed Bin Sultan Al Nahyan with oversight of the operation and performance of the investment portfolio, previously served as Vice Chairman of Abu Dhabi Islamic Bank.

Al Noor Hospitals Group SHEIKH MANSOOR BIN BUTTI AL HAMED Currently serving as the Head of Strategic Relations at Mubadala Development Company. Additionally sits on the Board of the United Al Saqer Group, a diversified family business based in the UAE.

Al Noor Hospitals Group FAISAL BIN JUMA KHALFAN BELHOUL REMUNERATION COMMITTEE Currently serves as Managing Partner at Ithmar Capital, a Dubai based private equity firm which he co-founded in 2005. In addition, currently serves on the boards of Arady, Belhoul Alternative Assets, Belhoul Properties, Belhoul Lifecare Holdings and Mushrif Trading & Contracting. Previously served as Chief Executive of Belhoul Group.

Al Noor Hospitals Group KHALDOUN HAJ HASAN Currently serves as a Managing Partner at Ithmar Capital, a Dubai based private equity firm which he co-founded in 2005. Previously served as Commercial Director for the Al Fahim Group and Vice President for Abraaj Capital. Has managed investments in sectors including healthcare, education, construction and engineering.

Al Noor Hospitals Group AHMAD NIMER QUALITY COMMITTEE Currently serving as the Chief Executive of United Al Saqer Group and additionally serves on the Board of Gulf Catering. Previously served as an Audit Partner at Deloitte & Touche between 2002 â&#x20AC;&#x201C; 2011 where he was in charge of auditing the Al-Noor Group. Certified Public Accountant.

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Al Noor Hospitals Group WILLIAM (BILL) STEPHEN WARD NOMINATION COMMITTEE Former Chief Operating Officer of Bupaâ&#x20AC;&#x2122;s International Business. Extensive experience in international healthcare markets with particular focus on the Middle East having held non-executive role with Bupa Middle East and Bupa Arabia. Previous roles include Chief Executive Officer of Cigna Europe and various roles with Bupa within the hospital segment.

Al Noor Hospitals Group WILLIAM (BILL) J WARD JR QUALITY COMMITTEE Currently serves as a Director of Master of Health Administration Degree at John Hopkins Bloomberg School of Public Health as well as the role of Associate Professor at the John Hopkins School of Nursing. Long-standing career in academia having held various roles at John Hopkins institutions since 1984. Over 20 years of experience in healthcare finance and operations having held the role of Chief Operating Officer of the Baltimore City Hospital.

Alliance Trust WINIFRED (WIN) ELSIE ROBBINS AUDIT AND REMUNERATION COMMITTEES Currently serves on the Board of City Merchants High Yield Trust. Former Managing Director and Head of European Fixed Income at BlackRock Institutional Trust, and Head of Non-US Fixed Income at Citigroup Asset Management. Early career with Morgan Grenfell, Smith New Court and Credit Suisse.

Anglo-American MPHU KENEILOE RAMATLAPENG SAFETY AND SUSTAINABLE DEVELOPMENT COMMITTEE Currently Vice Chairman of the Global Fund to Fight AIDS, Tuberculosis and Malaria since 2011. Previously, Minister of Health and Social Welfare in Lesotho from 2007 to 2012, having served as Country Director for the Clinton Foundation HIV/AIDS Initiative from 2005 to 2006. Currently serves on the Board of the Foundation for Innovative New Diagnostics.

Anglo-American JAMES (JIM) RUTHERFORD Until recently, Senior Vice President of Capital International Investors, a division of The Capital Group Companies. Former Vice President of Equity Research at HSBC James Capel and Regional Vice President at Laing & Cruickshank. Currently Advisor to Opus Executive Partners.

Antofagasta ANDRONICO LUKSIC CRAIG Currently Chairman of Quinenco, Compania Cervecerias Unidas and Co-Chairman of Banco de Chile. Additionally serves on the Board of Nexans. Previously Chairman of Banco Santander Chile and Banco De A Edwards.

THE CLASS OF 2013

ARM Holdings ERIC MEURICE Currently serves on the boards of IPG Photonics and NXP Semiconductors. Former Chief Executive of ASML Holding until 2013. Previously, Executive Vice President of Television and Accessories Worldwide of Thomson, and Vice President at Dell. Former Director of Verigy from 2006 to 2011. *Has stepped down from the board of ARM in 2014.

Ashmore Group CHARLES CEDRIC OUTHWAITE Currently Senior Advisor to Evercore Partners and serving on the Board of Redfold Vineyards. Formerly Partner of Lexicon Partners prior to its acquisition by Evercore in 2011. Former Managing Director of Credit Suisse First Boston, and early career with Donaldson Lufkin and Jenrette and Wragg & Co.

Ashmore Group DAME ANNE (ANN) FYFE PRINGLE More than 30 yearsâ&#x20AC;&#x2122; experience as diplomat with Foreign and Commonwealth Office (FCO), with a particular focus on Eastern Europe and Russia. Former British Ambassador to the Czech Republic and the Russian Federation, and Director of Strategy and Information at the FCO.

Aviva PATRICIA ANNE CROSS AUDIT, NOMINATION & REMUNERATION COMMITTEES Currently serves on the Board of Macquarie Group. She has over thirty yearsâ&#x20AC;&#x2122; experience across a wide range of financial services and other regulated industries in the US, Europe and Australia. Previous board experience includes roles with Qantas Airways, National Australia Bank, AMP and Goldman Sachs & Partners Australia.

Aviva MICHAEL MIRE CSR, NOMINATION & RISK COMMITTEES Currently serves on the Board of the Care Quality Commission. Former McKinsey & Company Senior Partner within the Financial Services practice. Joined McKinsey in 1983 and retired in 2013. He started his career at N M Rothschild in 1970 as an analyst and then foreign exchange dealer and spent three years seconded to the Central Policy Review.

Aviva ROBERT (BOB) W STEIN NOMINATION, REMUNERATION AND RISK COMMITTEES Currently Global Managing Partner for Actuarial Services following long career with Ernst & Young. Independent Director of Assurant. Certified Public Accountant.

THE CLASS OF 2013

BAE Systems CHRISTOPHER (CHRIS) MONTAGUE GRIGG Currently Chief Executive of British Land since 2009, having joined the company from Barclays where he was Chief Executive of their Commercial Banking Division. Former Partner and Head of Capital Markets at Goldman Sachs and Assistant Director of Morgan Grenfell. In addition, Director of the European Public Real Estate Association.

Balfour Beatty WILLIAM (BILL) THOMAS Currently on the boards of XChanging, Co-Operative Bank and GFI Software. Former Division Senior Vice President for EMEA at HP Enterprise Services. Previous career with Electronic Data Systems where he held a number of regional roles across Europe, Middle East and Africa.

Bank of Georgia Holdings KIM BRADLEY AUDIT, NOMINATION AND RISK COMMITTEES Spent over 15 years with Goldman Sachs in the Real Estate Principal Investments area focusing on European real estate and distressed debt. He led Goldman’s asset management affiliates in France, Italy and Germany. He has also served as President of Societa Gestione Crediti and as a Member of the Board of Capitalia Service Joint Venture in Italy, and was Chairman of the Shareholders’ Board at Archon Capital Bank Deutschland in Germany. Prior to Goldman Sachs, he was a senior executive at GE Capital for seven years in both the US and Europe.

Bank of Georgia Holdings BOZIDAR DJELIC NOMINATION AND RISK COMMITTEES Former Deputy Prime Minister of Serbia between 2007 and 2011. Prior to that was Regional Director of Eastern Europe for Credit Agricole Group. Founder of Altis Capital and also former Partner at McKinsey Paris. Previously Minister of Finance and Economy in Serbia between 2001-2004. Currently Managing Director for Lazard for the Sovereign Advisory Group based in Paris.

Bank of Georgia Holdings DOCTOR TAMAZ GEORGADZE NOMINATION COMMITTEE Currently the Chief Executive Officer/Managing Director of Savings Global which he founded in 2013. He was previously a Partner at McKinsey & Company in Germany where he focused on the retail banking sector. Prior to joining McKinsey & Company, Tamaz worked as aide to the President of Georgia in the foreign relations department from 1994-1995.

Barclays MICHAEL (MIKE) ST JOHN ASHLEY Currently serves as Head of Quality and Risk Management for KPMG Europe and is a Member of the European Management Board. More than 20 years’ experience as an Audit Partner at KPMG, leading the accounts of several financial services groups. In addition sits on the Ethics and Standards Committee of the Institute of Chartered Accountants in England and Wales (ICAEW), and is a Member of HM Treasury’s Audit Committee.

THE CLASS OF 2013

Barclays DIANE DE SAINT VICTOR AUDIT AND CONDUCT, REPUTATION AND OPERATIONAL RISK COMMITTEES Currently Executive Vice President, Member of the Executive Committee, General Counsel and Company Secretary at ABB since 2007. Widespread experience in corporate governance, legal & compliance, risk management, M&A, international policy and government relations. Previously worked in legal positions at Thales, General Electric, Honeywell International, SCA and EADS. Serves on the boards of ABB Asea Brown Boveri and the World Economic Forum’s Open Forum Davos Advisory Board.

Barclays FRITS D VAN PAASSCHEN Currently the President & Chief Executive of Starwood Hotels & Resorts Worldwide where he has served since 2007. Previously, he was the President & Chief Executive of Coors Brewing Company and held various roles with Nike between 1997 and 2004.

A. G. Barr JOHN ROSS NICOLSON AUDIT COMMITTEE President of Heineken Americas since 2008. Previously Managing Director, Eastern Europe, Asia and USA at Scottish & Newcastle and Executive Director at Fosters Group. Early career in Unilever and ICI Paints. Currently serves on the Board of beverage producer Compañía de las Cervecerías Unidas.

A. G. Barr PAMELA (PAM) POWELL Currently Governor of the Guildford College of Further and Higher Education. Additionally serves on the Board of Premier Foods. Former Group Director of Marketing, Strategy and Innovation at SABMiller. Earlier career in marketing with Coty and Unilever.

BBA Aviation WAYNE EDMUNDS AUDIT AND RISK, NOMINATION AND REMUNERATION COMMITTEES Currently serves on the Board of Ashtead Group. Former Chief Executive of Invensys, having previously served as Group Chief Financial Officer and also Chief Financial Officer, Invensys Process Systems. Prior to this, served as Senior Vice President Finance Americas with Reuters. Spent the bulk of his career at Lucent Technologies in various treasury, accounting and finance roles, latterly as Chief Financial Officer of the Optical Networking Division.

Beazley ANGELA DOREEN CRAWFORD-INGLE AUDIT AND RISK COMMITTEE Currently serves as a Partner at Ambre Partners since 2009. Former Senior Partner with PwC having had responsibility for the Investment Management and Insurance Division.

THE CLASS OF 2013

Bellway JOHN KNOWLTON WATSON NOMINATION COMMITTEE Former long serving Chief Executive of Bellway between 1999 â&#x20AC;&#x201C; 2013. Joined Bellway in 1978 and held various roles including Managing Director of North East Division and Technical Director. Chartered Surveyor.

Berkeley Group Holdings MAN-KIU (ADRIAN DAVID) LI Currently serves on a number of boards including San Miguel Brewery Hong Kong, Suno Land, China State Construction International Holdings, Affin Holdings and Cosco Pacific. He is also a Division Deputy Chief Executive at Bank of East Asia where he has been since 2000.

Berkeley Group Holdings ANDY MYERS Currently Group Chief Financial Officer for McLaren Group, having previously held finance roles with Rolls Royce since 1992. Began his career with KPMG.

Betfair Group JEREMY PETER JACKSON AUDIT COMMITTEE Currently the Chief Executive Officer of Travelex Holdings, a role he has held since 2010. Previously, he was the Head of Consumer Banking Division at Lloyds Banking and held various roles at HBOS between 2002 and 2009.

BG Group HAW-KUANG LIM Currently serves on the boards of ENN Energy Holdings and Sime Darby BHD and on Sime Darby Energy and Sime Darby Utilities as Chairman. He is a Special Advisor to the President for the World Business Council for Sustainable Development (WBCSD). Has held various roles with Shell Malaysia (Chairman) and Shell China Holdings (Director and Chairman) and was Managing Director of Shell Exploration and Production Malaysia. He is an Honorary President for the Business Council for Sustainable Development in Malaysia.

Blackrock World Mining Trust IAN DAVID COCKERILL AUDIT COMMITTEE Currently sits on the boards of Petmin, Endeavour Mining Corporation, African Minerals, Ivanhoe Mines, Hummingbird Resources and Orica. Previously he was Chief Executive of Anglo Coal between 2008-2009, and Chief Executive of Gold Fields between 1999-2008.

THE CLASS OF 2013

Brewin Dolphin Holdings IAN ANDREW DEWAR AUDIT COMMITTEE Spent over 30 years at KPMG where he was partner for 19 years working across audit and advisory with a focus on the financial services sector. Qualified Chartered Accountant.

Brewin Dolphin Holdings PAUL WILSON Former Senior Partner at Bain & Company where he was responsible for the Financial Services practice. Over 25 years of experience in the financial services industry. Currently Chairman of Kiln Underwriting and Independent Director at Unigestion. Previously served on the Board of Abbey Protection between 2008 and 2014. Chairman of Action Against Hunger.

British American Tobacco BRIGADIER GENERAL RICHARD JAY TUBB CSR AND NOMINATION AND COMMITTEES Former Physician, Deputy Assistant to the President of the United States and Vice President of the US Executive Office of the President. Long-standing career with the US Air Force as Captain and Flight Chief of Flight Medicine. Medical Doctor.

British Sky Broadcasting ADINE GRATE-AXEN Former Executive Vice President and Managing Director of Investor, having previously served as Head of Investor Relations and Communications. Currently sits on the boards of Sampo Group, Madrague Capital Partners, Swedish Orphan Biovitrum, Swedavia and Alhanko & Johnson. Former Audit Chair of EDB Business Partners and Non-Executive Director on the boards of Carnegie Investment Bank, OMX and Gambro.

Brown (N.) Group FIONA CAMPBELL LAIRD AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently Senior Vice President HR/Communication at Unilever since 2005, having joined the company in 2000. Previously worked with Lipton as Vice President HR and Unilever Bestfoods North America in the same role. Started her career as a lawyer at Mudge Rose Guthrie Alexander & Ferdon.

Brown (N.) Group RON MCMILLAN AUDIT AND REMUNERATION COMMITTEES Currently Regional Deputy Chairman and Country Leader for Saudi Arabia, Head of Assurance for the Middle East at PricewaterhouseCoopers, which he joined in 1991 and held a variety of positions including Operations Partner of European Assurance, Global Financial Partner, Regional Chairman of Northern Region and Middle East. Additionally serves on the board of 888 Holdings.

THE CLASS OF 2013

Brown (N.) Group SIMON PATTERSON AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently serves on the Board of Intelsat and holds various directorships with Dell, Intelsat Investment, Silver Lake Partners, Gerson Lehrman Group, Multiplan and Skype. Formerly a McKinsey consultant, he held various positions at GFX, was an Managing Director at Broadcast Monitoring and was with General Atlantic until 2005.

BTG RICHARD WOHANKA AUDIT COMMITTEE Currently Chief Executive Officer of Union Bancaire Privée Asset Management until 2012, having served as Chief Executive Officer of Fortis Investment Management France and WestLB Asset Management. Previously, Chief Executive Officer of Baring’s Institutional and Mutual Fund Division and various positions with BNP Paribas. Trustee of the Nuclear Liabilities Fund since 2012.

Bunzl MEINIE OLDERSMA AUDIT, NOMINATION AND REMUNERATION COMMITTEES Over 20 years’ experience in the technology distribution sector, he held a variety of senior positions with Ingram Micro and served as Chief Executive and President of their China Group and Managing Director of their business in Northern Europe before joining 20:20 Mobile Group Limited in 2008 as Chief Executive .

Bunzl JEAN-CHARLES PAUZE AUDIT, NOMINATION AND REMUNERATION COMMITTEES Formerly Chief Executive of Rexel. Previously served as Executive Chairman of Guilbert, Chief Executive of Clestra-Hausermann and held various positions with Alfa Laval International, latterly as Chief Executive of the Bran & Luebbe Group. Currently serves as Chairman of Europcar Group and Compagnie Française de l’Afrique Occidentale (CFAO).

Burberry Group MATTHEW KEY AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently Chairman and Chief Executive of Telefónica Digital, the global innovation arm of Telefónica. He previously served as Chairman and Chief Executive of Telefónica Europe (formerly O2); Chief Executive and Chief Financial Officer of O2 UK; and Chief Financial Officer for Vodafone UK. Prior to this, he held various financial positions at Kingfisher, Coca-Cola & Schweppes Beverages and Grand Metropolitan.

BWIN.Party Digital Entertainment SYLVIA MAY COLEMAN AUDIT AND RISK, NOMINATION AND REMUNERATION COMMITTEES Currently serves on the Board of Reprieve, a human rights organisation and is a Member of Action Aid and the Law Society. Most recently served as Head of Legal & Business Affairs at EMI Music. Previously, spent 18 years with Sony Music Entertainment Europe where she was responsible for Business Affairs in Europe. Has also served as Legal Adviser to Gallaher Group. Early career with Stephenson Harwood, the law firm, specialising in consumer-led businesses focused on monetising media right and brands, primarily in the digital entertainment arena.

THE CLASS OF 2013

Caledonia Investments STUART JOHN BRIDGES AUDIT COMMITTEE Currently Chief Financial Officer of Hiscox since 1999. Previously, Finance Director at Jacobs Holdings and various positions at Henderson Administration Group. Early career with Arthur Andersen and Richard Ellis Financial Services. Qualified Chartered Accountant.

Carillion ALISON HORNER AUDIT AND REMUNERATION COMMITTEES Currently the Group Personnel Director and Internal Advisor at Tesco where she has been since 1999, taking up her current role in 2011. Previous to this, she held various roles including Regional Personnel Manager, Personnel Director for UK Stores and Store Manager.

Carpetright ANDREW PAGE Currently Chief Executive of the Restaurant Group since 2006, having joined as Finance Director in 2001. Previously, Finance Director of Greenchip Investments and Senior Vice President of Intercontinental Hotels Group. Formerly with Kleinwort Benson. Qualified Chartered Accountant.

Centrica MICHAEL (MIKE) C LINN AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently Chief Executive of Linn Energy, which he founded in March 2003. In addition, serves on the boards of the National Petroleum Council and the American Exploration and Production Council. He is a Member of the Board of National Association of Manufacturers. He was recently appointed as Texas Representative for Legal and Regulatory Affairs Committee of the Interstate Oil and Gas Compact Commission. Sits on the boards of Naboors Industries and Western Refining Logistics.

Chemring NIGEL ROBERT YOUNG AUDIT COMMITTEE Currently serves on the Board of P2i. Other previous roles include Finance Director at Morgan Advanced Materials between 2002 and 2004, and Group Finance Director roles with Babcock International, First Technology and Alvis. Qualified Chartered Accountant.

Cobham DAVID JONATHAN FLINT Current Chief Executive of Oxford Instruments, a role he has held since 2005. Formerly Regional Managing Director for Vislink between 20022004 and prior to that Division Managing Director for BAE Systems for the Sensor Systems Division. On the Board of Andor Technology through the Oxford Instruments acquisition.

THE CLASS OF 2013

Coca-Cola HBC ANTONIO D’AMATO NOMINATION AND REMUNERATION COMMITTEES Currently serves as the President of Business Europe, a role he has held since 2000. Previously served as President of a number of organisations including General Confederation of Italian Industry, Industrial Union of Naples, Findesa Group, Luiss Guido Carli University and Seda Group.

Coca-Cola HBC ANASTASSIS G DAVID NOMINATION COMMITTEE Currently serves on the boards of Aegean Airlines, IDEAL Group and Axa Insurance. Began his career with Coca-Cola Bottling System in the US and has held various roles subsequently with Hellenic Bottling Company in sales and marketing. Additionally, spent a number of years with PwC focused on accounting and business finance. Previously served as Chairman of Navios Corporation between 2002 and 2005.

Coca-Cola HBC GEORGE A DAVID SOCIAL RESPONSIBILITY COMMITTEE Currently serves as Chairman on the Board of Eurobank Ergasia, one of Greece’s largest banks and the boards of AXA Insurance and Petro Petropoulus. Previously held executive role with AG Leventis including Branch Manager, Division General Manager and Managing Director. He joined Hellenic Bottling in 1981 as Chairman. Previously has held board roles with Bank of Cyprus Group and Titan Cement.

Coca-Cola HBC IRIAL P FINAN Currently serving as Division President for Bottling Investment & Supply Chain at Coca-Cola Company. Additionally on the Board of Smurfit Kappa Group. Previous executive roles include leadership positions with Coca-Cola Bottlers Ireland and Coca-Cola Hellenic Bottling. Formerly held board roles with Alltracel Pharmaceuticals, Marlborough International and Eircom Group.

Coca-Cola HBC STEFAN HEIDENREICH AUDIT COMMITTEE Currently serving as Chairman & Chief Executive Officer of Beiersdorf since 2012 and serving on the Board of Godiva Chocolatier. Previously held the role of Chief Executive Officer at Hero Switzerland between 2002 to 2011. Over 25 years of experience in international brands and branded consumer goods. Prior to joining Hero, he held management roles at Procter & Gamble, Reckitt Benckiser and Bertelsmann.

Coca-Cola HBC JOHN HUNTER NOMINATION AND SOCIAL RESPONSIBILITY COMMITTEES Formerly held a number of executive roles with Coca-Cola Company since 1984 including President of the International Business Sector and President of the Pacific Group. Joined the Board of Coca-Cola Enterprises in 2008.

THE CLASS OF 2013

Coca-Cola HBC CHRISTOS JAONNOU AUDIT COMMITTEE Currently serving on the boards of J&P Avax and Aegean Airlines. Formerly has served on the boards of Food Plus, Athena, Nice Day Developments, Yes, Zarco Developments and Eteth amongst others.

Coca-Cola HBC ANASTASIOS PAUL LEVENTIS Currently serves as Chairman of the Leventis Foundation and on the Board of Leventis Group International Companies. He worked for a number of Leventis controlled companies in Nigeria since the 1960s. Appointed Officer of the Order of Federal Republic of Nigeria in 2002.

Coca-Cola HBC HARALAMBOS-KRITONAS C LEVENTIS Formerly Vice Chairman of Coca-Cola Hellenic Bottling Company. Previously involved in the management of various companies controlled by AG Leventis in Nigeria including Leventis Motors and Leventis Overseas.

Coca-Cola HBC SIR MICHAEL LLEWELLYN-SMITH NOMINATION, REMUNERATION AND SOCIAL RESPONSIBILITY COMMITTEES Currently serves as Vice President of British School at Athens and as Visiting Faculty Member at Durrell School of Corfu and Kingâ&#x20AC;&#x2122;s College London. Former British Ambassador to Poland between 1991 and 1996, and Ambassador to Greece from 1996 to 1999. Prior to taking on the above mentioned ambassador roles, Sir Michael held a number of posts in the British Diplomatic service in Moscow, Paris, Warsaw, Athens and London.

Coca-Cola HBC NIGEL COLIN MACDONALD AUDIT COMMITTEE Former Audit Partner with Ernst & Young where he joined in 1976 and retired in 2003. Served as President of the Institute of Chartered Accountants of Scotland and Board Member of the Financial Reporting Council Review Panel, Competition Commission and British Standards Institutions.

Computacenter REGINE STACHELHAUS Until recently, Chief Human Resource Officer at E.ON. Former Executive Secretary of the German Committee for UNICEF following career at Hewlett-Packard, most recently as Vice President of the Imaging and Printing Group within Germany. Employee Representative on Hewlett-Packard Supervisory Board from 1994 to 2000. Qualified attorney.

THE CLASS OF 2013

Countrywide CALEB SAMUEL KRAMER AUDIT AND REMUNERATION COMMITTEES Currently Managing Director for Europe at Oaktree Capital Group where he has been since 2000. He has previously held executive roles with Merrill Lynch, Dillon Read and Archon Capital Partners. Previous board roles include R&R Ice Cream and Campofrio Food Group.

Countrywide CATHY TURNER REMUNERATION COMMITTEE Currently Vice President of Unicef UK since 2011. Former Group HR Director for Barclays between 2005-2011.

Cranswick KATE ALLUM Currently Chief Executive of First Milk, a company she joined in 2009 as Group Operations Director. Previously, Head of European Supply Chain at McDonalds. Former UK Managing Director at OSI International Foods. In addition, Vice Chairman of Dairy UK, an organisation that represents the interests of the dairy industry.

Crest Nicholson Holdings PAMELA (PAM) ELIZABETH ALEXANDER AUDIT, REMUNERATION & NOMINATION COMMITTEES Former Chief Executive of South East England Regional Development Agency between 2004 and 2011. Held a number of positions with the UK Government including Head of Agency Policy Review for Cabinet Office and Treasury Minsters and Head of Housing Associations Division at the Department of Environment.

Crest Nicholson Holdings MALCOLM GRAHAM MCCAIG AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently serves on a number of privately listed boards including Trad-X, Punjab National Bank, Compagnie FinanciĂ¨re Tradition, One Savings Bank and Unum. Previously, he was a Partner within Ernst & Young and Deloitte.

CRH DONALD (DON) ANTHONY MCGOVERN JR Currently serves on the Advisory Board of NASDAQ Private Market. Former Vice Chairman, Global Assurance at PwC to 2013, having held various positions since joining in 1974 including Member of the Global Board. Prior to PwC, Global Engagement and Lead Assurance Partner with Cisco Systems. Certified Public Accountant.

THE CLASS OF 2013

Damac Real Estate Development FAROOQ ARJOMAND AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently serves as the Chairman & Founder of the Arjomand Group of Companies and on the boards of Amlak Finance & Al Ahlia Insurance. Earlier career spent in banking with HSBC Oman between 1985 and 2000.

Damac Real Estate Development AYALUR SUBBARAMAN AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently serves as Group General Manager of Abu Hani Establishment, a diversified business group in Oman. Previously held executive roles with Damac Properties as a Leader in the Middle East Region between 1989 and 2008.

Damac Real Estate Development JOHN ROBERTSON WRIGHT AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently serves on the boards of Butterfield Bank and European Islamic Investment Bank. Previous executive career includes roles with Clydesdale Bank, Gulf Bank of Kuwait, Northern Bank and HSBC Bank Oman as Chief Executive Officer. Formerly served as Chairman of Edinburgh Fund Managers Group. In addition, he is currently a Panel Member of the Independent Review of Economic Policy at the Department of Enterprise, Trade and Investment.

De La Rue ANDREW (ANDY) JOHN STEVENS AUDIT, ETHICS, NOMINATION AND REMUNERATION COMMITTEES Currently serves on the boards of Heroux-Devtek, CAE, and AIM Aviation, which Towerbrook acquired in September 2013. Former Chief Executive Officer of Cobham, having previously served as Chief Operating Officer and Managing Director, Aerospace. Previously, held a number of operational and general management roles for Spirent Communications, Messier-Bugatti-Dowty and Rolls-Royce and was a former Advisory Board Member of Singapore Aerospace Manufacturing.

Debenhams STEPHEN (STEVE) JOHN INGHAM Currently Chief Executive of Michael Page International since 2006. Previously held a number of corporate roles within Michael Page, including Regional Managing Director of UK Operations and Managing Director of Human Resources, as well as leading several functional divisions.

Dechra Pharmaceuticals JULIAN SPENSER HESLOP AUDIT, NOMINATION AND REMUNERATION COMMITTEES Former Chief Financial Officer of GlaxoSmithKline from 20052011, having joined Glaxo Wellcome in 1998 as Financial Controller. Previously held senior financial roles with Grand Metropolitan. Early career as an auditor with Stoy Hayward. Currently serves on the boards of Revolymer, a developer of polymer products for FMCG markets, and former Chairman of ViiV Healthcare. Chartered Accountant.

THE CLASS OF 2013

Derwent London RICHARD DAKIN AUDIT AND RISK COMMITTEES Currently Head of Corporate Real Estate Business at Lloyds Bank. Joined Lloyds Bank in 1982 and has held various roles, most recently as the Division Managing Director for Major Corporates.

Devro GERARD J HOETMER Currently has taken on the Chairman role at Devro. Formerly the Chief Executive of Corbion and Director of CSM Bakery Supplies in Europe. Previously, he held a variety of roles with Unilever since 1998, most recently the Senior Vice President of Supply Chain Management from 2004 to 2005. Prior to that, he worked for Loders Croklaan, Shell Realty and Van den Bergh en Jurgens.

Diploma CHARLES MAX PACKSHAW AUDIT, NOMINATION AND REMUNERATION COMMITTEES Former Head of UK Corporate Finance for the Investment Banking Business of HSBC since 2002. Previously, Managing Director Corporate Finance for Lazard. Past board roles include Restaurant Group and Diagonal.

Dixons Retail ANDREA GISLE JOOSEN AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently serves on the Board of ICA Gruppen, Swedenâ&#x20AC;&#x2122;s largest grocery retailer. Formerly, President of Boxer TV-Access, a pay TV operator in Sweden, Nordic Managing Director at Panasonic, Chantelle and Twentieth Century Fox Home Entertainment, and was Marketing Director at Johnson & Johnson. Held various roles at Procter & Gamble and Mars in her earlier career.

DS Smith CHRISTOPHER (CHRIS) PAUL BRITTON AUDIT, NOMINATION AND REMUNERATION COMMITTEES Former Chief Executive of Findus Group between 2009 and 2012. Previously held roles with Royal Numico as Division President of Baby Food. Joined Numico from Diageo where he had global responsibility for marketing for Guinness. Various other roles within branding with Diageo and Grand Metropolitan since 1982. Additionally serves on the Board of Alliance Boots since 2008.

Edinburgh Investment Trust VICTORIA HASTINGS AUDIT, MANAGEMENT ENGAGEMENT AND NOMINATION COMMITTEES Spent nearly 25 years in the investment management industry where roles have included Investment Director at JO Hambro Capital Management, Chief Investment Officer at Merrill Lynch Private Investors and Fund Manager in the Merrill Lynch European Equity team.

THE CLASS OF 2013

Edinburgh Investment Trust GLEN P SUAREZ AUDIT, GOVERNANCE AND NOMINATION COMMITTEES Currently Deputy Chief Executive and Director of Investments at Knight Vinke Asset Management, a role he has held since 2007. Prior to this, he was the Division Head for European Utilities at Morgan Stanley. Qualified Chartered Accountant.

Electra Private Equity FRANCESCA BARNES AUDIT, GOVERNANCE, NOMINATION, REMUNERATION AND VALUATIONS COMMITTEES Currently serves on the Board of Coutts & Company since 2012. Previously, held a number of roles with UBS since 1993 including Global Head of Private Equity and Head of Strategy Development. Also the Chairman of UBS Investment Bank between 2004 and 2006.

Electra Private Equity JOSYANE GOLD Currently serves as a Partner at multinational law firm, SJ Berwin, where she founded its private equity and investment practice. Additionally serves as a Consultant at King & Wood Mallesons. Previously, Partner at Solicitor Bartletts de Reya, and Expert Panel Member to the European Commission. Member of the Law Society of England and Wales.

Electrocomponents JOHN PATTULLO AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently serves on the boards of Marken and CEVA Logistics. Formerly Chief Executive of CEVA Logistics from 2007-2012. Previously Chief Operating Officer of the EMEA Division of DHL Exel Supply Chain until 2007 following DHL’s acquisition of Exel, where he had been Chief Executive of the region. Early career in various supply chain management roles with Procter & Gamble. Chairman of NHS Blood and Transplant and Trustee of In Kind Direct.

Elementis ANNE PHILOMENA HYLAND AUDIT COMMITTEE Most recently Chief Financial Officer of Vectura Group. Previously held finance roles with Celltech Group and Medeva. Qualified Chartered Accountant.

Enterprise Inns PETER JEFFREY BAGULEY Currently Director of Retail Occupier Strategy at Jones Lang Lasalle. Former Managing Director of Sainsbury’s Property Team, following operations career at Alliance Boots. Previously, served on the Board of Atrium European Real Estate. Chartered Surveyor.

THE CLASS OF 2013

Esure Group SHIRLEY JILL GARROOD AUDIT COMMITTEE Former Chief Financial Officer of the Henderson Group and Member of the Executive Committee. Previously, she held a number of various finance roles with Aviva Investors and CU Investment Management.

Esure Group ANNE HELEN RICHARDS AUDIT, INVESTMENTS AND RISK COMMITTEES Currently Chief Investment Officer of Aberdeen Asset Management, Head of Alternative Investment Strategies and Chief Executive of Aberdeen Asset Management Investment Services. Additionally serves on the Board of Scottish Widows as an Executive Director. Previous investment roles with Murray Income Trust, Edinburgh Fund Managers Group and Blackrock Investment Managers.

Esure Group MARIA DOLORES TREVINO Currently Chief Executive of Bankinter. She was previously the Chief Executive of Linea Directa Aseguradore between 2008-2010. She joined Linea Directa in 1994 and acted as Secretary General until 2008. Prior to that, she held various roles with Bankinter.

Esure Group PETER GEOFFREY WARD AUDIT, INVESTMENTS, REMUNERATION AND RISK COMMITTEES Formerly Regional Director of Commercial Union, which he joined in 1989 retiring in 2000. Has worked across Australia, South Africa and the UK. Actuary by background and a Fellow of the Institute of Actuaries. Former President of the Insurance Institute of London.

F&C Management CHARLIE PORTER Former Head of Retail and Wholesale & Investment Trusts at F&C Management between 2011-2012. Founded Thames River Capital in 1998 which he sold to F&C in 2010. Previously with Baring Asset Management between 1987-1998 having oversight over Asia, Middle East, North America and Africa. Currently also serves on the Board of Nevsky Fund.

Fisher & Sons DAVID GEORGE MOORHOUSE Former Chairman & Chief Executive of Lloyds Register from 1999. Previously, held various roles with John Brown since 1975 including Division Managing Director for UK Operations. Currently on the boards of Sovcomflot and Braemer Shipping Services.

THE CLASS OF 2013

Fisher & Sons MICHAEL (MIKE) JOHN SALTER Former Chief Operating Officer of Abbot Group from 1997-2007. Prior to that, held a number of executive roles with Smedvig, Bawden Drilling and Oceanic Offshore Services. Currently Chairman of Red Spider Technology and CQS Rig Finance Fund.

Foreign & Colonial Investment Trust FRANCESCA EVA ECSERY Currently serves on the boards of two AIM listed entities, Good Energy Group and Share. Previously held various executive roles with Momondo Group, STA Travel, Going Places, Thomas Cook and MyTravel Group.

Foxtons Group ANDREW JOHN ADCOCK AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently serves on the boards of JP Morgan European Investment Trust, Kleinworth Benson Bank, Majedie Investments & F&C Global Smaller Companies. He has over 30 years of experience in the City previously having held executive roles with Brompton Asset Management, Citigroup Global Markets, Barclays de Zoete Wedd, and Lazard Group where he was a Partner and Credit Suisse Securities where he led the Corporate Brokerage Division.

Foxtons Group STEFANO PIETRO QUADRIO CURZIO Currently Chairman & Managing Partner at BC Partners and serves on the boards of General Healthcare Group, Hirslanden Healthcare and Teknon Healthcare. Previously, held various roles at BC Partners including Managing Partners of the London Office. Prior to joining BC Partners, he was a Partner at the Boston Consulting Group between 1990 and 1996.

G4S PAUL D SPENCE AUDIT, CSR AND RISK COMMITTEES Previous career in professional services with Capgemini and its predecessors. Most recently Deputy Chief Executive Officer with responsibility for all worldwide revenues, product development and largest clients. Held Chief Executive roles of Global Outsourcing and UK&I at Capgemini. Previously, Partner with Ernst & Young in America, Australia and China.

Genesis Emerging Markets Fund SUJIT BANERJI An independent advisor on corporate strategy to a number of companies in the finance, and finance-related technology sectors globally. Former Managing Director, Citigroup responsible for Strategy and Institutional M&A, EMEA. Spent 33 years at Citigroup where he held various regional roles in strategy and corporate finance and was responsible for relationships with multinational clients across the MENA region. Has also served as the Country and Region Head for Citi in India, and as Head of Corporate Business in Thailand.

THE CLASS OF 2013

Glencore Xstrata PETER T GRAUER Currently serves on the boards of Bureau of National Affairs, Davita Healthcare Partners and Bloomberg where he has been Executive Chairman since 2002. Founded DLJ Merchant Banking in 1992 and was the Managing Director until 2000 when he left to join Credit Suisse Securities USA as a Senior Partner. Has held a number of directorships with private companies including Thermadyne Holdings, Bloomberg, Grauer & Wheat, Doane Pet Care and DecisionOne Holdings.

Glencore Xstrata JOHN J MACK Currently a member of a number of boards including Rosneft Oil, Bloomberg, and Lending Club and acts as a Senior Advisor for KKR and Morgan Stanley. Previously, he was the Executive Chairman of Morgan Stanley after acting as the Chairman & Chief Executive for five years. Prior to that, he held a number of leadership roles with Morgan Stanley.

Go-Ahead Group ADRIAN JAMES EWER AUDIT, NOMINATION AND REMUNERATION COMMITTEES Until March 2014, Chief Executive of John Laing. Spent the majority of his career in various finance roles with John Laing. Formerly served on a number of private boards including Octagon Group, Postcircle, Laing Rail, UK Highways and Laing Investments. Qualified Chartered Accountant.

Greggs ALLISON KIRKBY AUDIT, NOMINATION AND REMUNERATION COMMITTEES Newly appointed Chief Financial Officer of Tele2, since May 2014. Previously Chief Financial Officer of Shine Group between 20112014. Prior to this, had responsibility for Finance, Operations and Transformation at Virgin Media between 2010-2011. Prior to that, she held a number of roles with Procter & Gamble between 1990-2010. These included Managing Director for Salon Professional, Director for Investor Relations, and Finance Director for UK and Ireland.

Hays DOCTOR TORSTEN G KREINDL AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently a Partner with Grazia Gruppe Equity and serves on the Board of Swisscom. Previously, he was a Partner at Copan between 1999 and 2005 and prior to that was Head of Cables at Deutsche Telekom. Trained chemical and industrial engineer.

Herald Investment Trust DOCTOR THOMAS (TOM) JOSEPH BLACK Currently Executive Chairman of Digital Barriers which provides advanced surveillance technologies to international homeland security and defence markets and serves on the Board of Pinnacle Technology Group. Prior to joining Digital Barriers, spent over 20 years with Detica Group as Chief Executive between 1997-2008. He headed the ÂŁ12 million MBO between 1995-1997 and the flotation in 2002. In addition, he oversaw the acquisition of Detica by BAE Systems in 2008.

THE CLASS OF 2013

HICL Infrastructure SALLY-ANN (SUSIE) FARNON AUDIT & REMUNERATION COMMITTEES Currently serves on the boards of Standard Life Investments Property Income Trust, Dexion Absolute, Breedon Aggregates and Threadneedle UK Select Trust. Former KPMG Partner in charge of Banking & Finance and Head of Audit for the Channel Islands between 1990-2001. Has held roles with the States of Guernsey between 2004-2006.

Hiscox CAROLINE J FOULGER AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently serves on the boards of Bank of NT Butterfield & Son and Bermuda Business Development Corporation. Previously Partner at PricewaterhouseCooper where she led the Insurance and Reinsurance team in Bermuda, as well as the Government and Public Sector Practice. Previously held various positions in PwCâ&#x20AC;&#x2122;s Public Sector Practice. Qualified Chartered Accountant.

HSBC JAMES (JIM) BRIEN COMEY JR GOVERNANCE COMMITTEE Joined HSBC in March 2013 but resigned in order to become Director of the FBI in September 2013. He served on the Financial System Vulnerabilities Committee. Prior to joining the FBI, he worked for Bridgewater Associates as General Counsel and prior to that held a number of roles with the US Department of Justice as an Attorney.

HSBC SIR JONATHAN EVANS FINANCIAL SYSTEM VULNERABILITIES COMMITTEE Past career includes roles with the UK Government as Officer for Irish terrorism issues between 1980-1990 and working as Division Director for MI5 (Security Services) between 2001 and 2013. Currently on the board of the National Crime Agency and joined HSBCâ&#x20AC;&#x2122;s newly formed Financial System Vulnerabilities Committee.

HSBC DOCTOR RENATO FASSBIND AUDIT & REMUNERATION COMMITTEES Currently Vice Chairman of Swiss Re and serving on the Board of Kuehne & Nagel. Also on the Board of Swiss Federal Audit Oversight Authority. Until 2012, Senior Advisor to the Chief Executive at Credit Suisse, following six years as Chief Financial Officer. Previously, Chief Executive at Diethelm Keller and Chief Financial Officer at ABB. Former audit roles with Peat Marwick and F. Hoffmann-La Roche. Certified Accountant.

ICAP IVAN R RITOSSA REMUNERATION AND RISK COMMITTEES Until recently Head of Latin America, Central and Eastern Europe, the Middle East and Africa for Barclays Investment Bank. Joined Barclays in 2002 as Global Head of Foreign Exchange, having previously held various positions including Co-Global Head of Foreign Exchange and Emerging Markets at Lehman Brothers. Served on the Board of South African consumer bank ABSA Group from 2011 to 2012.

THE CLASS OF 2013

IG Group Holdings JIM NEWMAN Currently Division Director at Resolution with responsibility for Resolution Operations. Additionally serves on the Board of Sesame Bankall Group. Previously, he held various finance roles at Resolution between 2005 and 2007, most recently as the Division Chief Financial Officer for Resolution Operations. Prior to joining Resolution, he spent ten years with Norwich Union Group.

IG Group Holdings SAM TYMMS AUDIT COMMITTEE Currently Managing Director of the Promontory Financial Group UK. Former Head of Department at the Financial Services Authority between 1998-2007.

Infinis Energy ALAN BRYCE AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently serves on the Board of Viking Energy as Chairman and sits on the Board of Scottish Water. Previously held a number of executive roles with Scottish Power since 2003 including Generation Director for Energy Wholesale and Division Director for Energy Networks Business until 2009.

Informa CINDY ROSE AUDIT COMMITTEE Currently Consumer Director at Vodafone Group. Previous roles at Walt Disney include Senior Counsel, Regional Vice President and Regional Senior Vice President/Managing Director. Formerly an Executive Director at Virgin Media.

Inmarsat SIMON TRISTAN BAX REMUNERATION COMMITTEE Currently a Director of Inmarsat, Archant, MobiTV, and the British Bobsleigh and Skeleton Association. Former Founder and Chief Executive Officer of Encompass Digital Media, a technology services provider to the broadcasting industry. Previously, Chief Financial Officer of Pixar and Fox Filmed Entertainment, and Partner at Stoy Hayward. Former Director of private and listed companies including Panmure Gordon, KIT Digital and SmartJog. Chartered Accountant.

Inmarsat DOCTOR ABRAHAM (ABE) PELED NOMINATION COMMITTEE Currently Group Senior Vice President at Cisco Systems. Previously Chief Executive of NDS, the pay TV software provider acquired by Cisco. Formerly held roles with Elron Electronic Industries and IBM Research.

THE CLASS OF 2013

Intercontinental Hotels Group GILLIAN (JILL) MCDONALD AUDIT AND NOMINATION COMMITTEES Currently President & Chief Executive at McDonald’s UK and Division President responsible for McDonald’s Northern Europe. Previously, she was the Chief Marketing Officer for UK & Northern Europe between 2006-2011. She joined McDonald’s from British Airways where she held a number of roles in marketing and branding between 1990-2006.

International Consolidated Airlines Group ALBERTO MIGUEL ESTEBAN Former Managing Partner at Arthur Andersen, and Member of the Worldwide Advisory Council and European Executive Committee. Former EMEA Chairman at Deloitte, and Managing Partner at law firm Garrigues & Andersen. Director of Indra Sistemas and transport concession group, Obrascón Huarte Lain.

International Consolidated Airlines Group DAME MARJORIE MORRIS SCARDINO REMUNERATION COMMITTEE Former Chief Executive of Pearson between 1997-2012. Has held various board roles including for Nokia, Pearson Services, RTL Group, AOL, Conagra Foods, FremantleMedia Group and WH Smith. Other executive roles include Chief Executive (1993-1996) and Regional President for North American Operations (1985-1993) for Economist Newspaper. Currently on the Board of Twitter.

International Public Partnerships JOHN B STARES AUDIT COMMITTEE Currently Chairman of JT Global, and serves on the boards of Terra Firma Fund and Jersey Electricity. Previously, he was the Managing Director for Guernsey Enterprise Agency and a Consultant with Accenture between 1978 and 2001.

Interserve ANNE FAHY AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently Chief Financial Officer of Global Fuels for BP. She joined in 1988 and has held various positions across the Aviation, Petrochemicals, Trading and Retail sectors in BP’s Refining and Marketing business. Qualified Chartered Accountant.

Intertek Group DOCTOR MARK WILLIAMS Currently serves as the Chairman of Hess Corporation. Formerly spent over 30 years in executive roles with Shell, including over 20 years in Shell’s Exploration & Production and midstream businesses in the US. Most recently served as Downstream Director and a Member of the Executive Committee of Shell, where he was one of the top three operating executives responsible for all strategic, capital and operational matters.

THE CLASS OF 2013

Investec DAVID FRIEDLAND AUDIT COMMITTEE Currently serves on the boards of Pickâ&#x20AC;&#x2122;n Pay Stores, The Foschini Group and Investec. Formerly a Partner at KPMG.

ITE Group STEPHEN RONALD PUCKETT AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently serves on the Board of Hydrogen Group. Former Group Finance Director of Michael Page from 2001 to 2012. Previously Group Finance Director of Stat Plus Wace Group. Previously Director of SHL Group (2004 to 2006). Qualified Chartered Accountant.

ITV SIR PETER LYTTON BAZALGETTE NOMINATION COMMITTEE Former Chief Creative Officer of Endemol Group between 2005-2008 and the Chairman of Endemol UK. Started his career with Endemol UK in 1990 as Creative Director. Has sat on a number of media boards including Channel 4 and is the Founder of Bazal Productions. Currently on the Board of Sony Pictures Television Productions, YouGov, Base79 and Myugrights.com.

Johnson Matthey ODILE DESFORGES Most recently, Executive Vice President of Engineering and Quality and a Member of the Executive Committee of Renault. Previously President of the 3P Business Unit (Product Planning, Development and Purchasing Project) at Volvo. Currently sits on the boards of Dassault Systemes, Sequana and Safran.

Just Retirement Group JAMES ANNAND FRASER NOMINATION COMMITTEE Currently serves as a Partner at Permira Advisers and as the Head of the Financial Services Sector Team. Previously, he served as a Partner and Co-Head of Global Financial Services Practice at L.E.K. Consulting between 1987 and 2008.

Just Retirement Group KEITH NICHOLSON AUDIT, COMPLIANCE & RISK, MARKET DISCLOSURE, NOMINATION AND REMUNERATION COMMITTEES Former KPMG Audit Partner where he served between 1986 and 2009 before retiring. During his time there, he led the Insurance Practice and was the Relationship Manager for Aviva and Winterthur Group. Currently also serves on the boards of Equitable Life Assurance Society, Liberty Syndicate Management and Wesleyan Assurance Society. Chartered Accountant.

THE CLASS OF 2013

Just Retirement Group ARTHUR (LES) LESLIE OWEN COMPLIANCE & RISK AND REMUNERATION COMMITTEES Currently serves on the boards of Computershare, Discovery, Jelf Group and Royal Mail. Former executive roles include his time as Chief Executive Officer of Sun Life Assurance and Group Chief Executive Officer of Axa Asia Pacific Holdings.

Kazakhmys LYNDA ARMSTRONG HEALTH, SAFETY & ENVIRONMENT, AND REMUNERATION COMMITTEES Currently serves on the Board of Central Europe Oil Co and is Chairwoman of the British Safety Council. Former Divisional VicePresident of Technology at Shellâ&#x20AC;&#x2122;s International Exploration & Production Solutions division. Long-standing career with Shell, including Exploration Director in Oman.

Kazakhmys MICHAEL D LYNCH-BELL AUDIT COMMITTEE Currently sits on the boards of Seven Energy International and Equus Petroleum and is a Senior Adviser at Ernst & Young. Joined Ernst & Young in 1974, leaving in 2012 where he was a Partner in the Transaction Advisory Services, IPO and Metals & Mining. He is a Trustee of the 21st Century Legacy. Chartered Accountant.

Kenmare Resources GABRIEL SMITH AUDIT, NOMINATION AND REMUNERATION COMMITTEES Formerly Chairman of Lighthouse Caledonia and Marine Harvest. He was the Chief Executive of Tinfos between 1990 and 2007. Previously the Chief Executive of Ingenior Christen Smith, a technical trading company. He began his career as a loan officer at Citibank London.

Ladbrokes DAVID ROBERT MARTIN REMUNERATION COMMITTEE Currently the Chief Executive of Arriva since 2006. Previously, he held the role of Group Managing Director for Operations and Executive Director responsible for International Operations and Development since 1998. He joined Arriva in 1986 through the acquisition of the British Bus Group and became Division Managing Director for the Bus Operations in 1996. Chartered Management Accountant.

Laird JACK BOYER AUDIT AND REMUNERATION COMMITTEE Currently also sits on the Board of Mitie Group and is Chairman of the AIM-listed Ilika and biotech company iQur. A member of the Engineering and Physical Sciences Research Council. Former Chief Executive of pan-European automotive engineering group TCG, Executive Director at Goldman Sachs and a Management Consultant at Bain & Co.

THE CLASS OF 2013

Lancashire Group SAMANTHA HOE-RICHARDSON AUDIT COMMITTEE Currently Head of Sustainable Development and Energy at Anglo American, responsible for improving sustainability across all of Anglo’s business units. Also Director of Anglo American’s Zimele Green Fund, and Member of Sustainable Development Committee of De Beers. Early career in investment banking. Qualified Chartered Accountant.

Law Debenture Corp MARK GEORGE BRIDGEMAN Previously with Schroders where he covered various positions such as Head of Pan-European Research, Head of Global Sector Research, Emerging Markets Fund Manager, and Global Head of Research. During his career, he worked in Australia and the United States. Currently managing a rural estate and farming business in Northumberland.

Legal & General Group LINDSAY PETER TOMLINSON NOMINATION AND REMUNERATION COMMITTEES Formerly served as the Managing Director of Blackrock Holdings between 2009-2011 prior to which he was the Regional Vice Chairman for Europe for Barclays Global Investors UK Holdings. Currently an Executive Director on the Board of National Association of Pension Funds and serves on the Board of Legal & General Investment Management Holdings.

Legal & General Group LIZABETH H ZLATKUS NOMINATION & RISK COMMITTEES Formerly the Chief Risk Officer and Chief Financial Officer at Hartford Financial Services Group where she joined in 1983. She has held various positions there until her departure in 2011.

London Stock Exchange STUART LEWIS Formerly held various roles with Deutsche Bank inclduing Deputy Chief Risk Officer, Corporate & Investment Banking; Head of Europe, Loan Exposure Management Group, Global Head of the Loan Exposure Management Group and Deputy Chief Risk Officer. Early career with Credit Suisse Financial Products in Credit Risk Management and with Continental Illinois National Bank.

London Stock Exchange STEPHEN PAUL Oâ&#x20AC;&#x2122;CONNOR Currently Chairman of International Swaps & Derivatives Association. Also a Member of the CFTC Global Markets Advisory Committee. Former Director, Derivatives Regulatory Reform at Morgan Stanley, having served as Global Head of OTC Derivative Client Clearing. Other roles at Morgan Stanley included: Regional Financial Controller, Equity Derivatives EMEA and Group Treasurer, Derivative Products. Early career with PwC in Audit.

THE CLASS OF 2013

Londonmetric Property ALEC GERARD PELMORE AUDIT AND NOMINATION COMMITTEES Most recently Senior Independent Director of Metric Property Investments, transitioning onto the Londonmetric Board when it took over the company. Previously, Managing Director of Property and Real Estate and Securities Research at Merrill Lynch. Currently also serves on the Board of Unibal-Rodamco.

Londonmetric Property ANDREW JOHN VARLEY AUDIT AND REMUNERATION COMMITTEES Since 1990, Group Property Director at Next following a commercial career with Next including Managing Director of Next Directory. NonExecutive Director of Metric Property Investments until Londonmetric was formed.

Londonmetric Property PHILLIP MARK WATSON NOMINATION AND REMUNERATION COMMITTEES Since 1982, Founder and Chief Investment Officer of Mirab Asset Management, and Fund Adviser to Close Finsbury Asset Management. Former Fund Manager with Robert Fleming. Board director of Metric Property Investments until Londonmetric was formed.

Lonmin BRIAN RICHARD BEAMISH

Currently serves on the Board of De Beers UK. Formerly served on the board of Anglo American Platinum and was Divisional Chief Executive of Anglo American’s Base Metals division. Early career as engineer with Amplats Group.

Lonmin PHUTI (MALABIE) MAHANYELE SAFETY & SUSTAINABILITY, AND TRANSFORMATION COMMITTEES Currently Deputy Chairman of Pan African Resources, Chairman of Gigajoule Africa, and Director on the boards Mondi Shanduka Newsprint and Netgroup Solutions Holdings. She is also Managing Director of Shanduka Energy. Previously a Director of Vodacom Group and Agito Capital as well as Head of Finance of the Development Bank of Southern Africa.

Lonmin GARY NAGLE Currently Director of Glencore Xstrata’s Ferroalloys division, a role he has held since earlier in 2013. Previously, Chief Executive of Glencore’s Columbian subsidiary, Prodeco. Joined Glencore in 2000, and was based in Switzerland where he managed the company’s global coal assets.

THE CLASS OF 2013

Lonmin PAUL SMITH Currently serves as the Head of Investor Relations, Public Affairs and Group Strategy for Glencore Xstrata, having joined the company in 2011 from Marshall Wace, where he was an analyst and portfolio manager. Previously worked as an equity analyst for Credit Suisse First Boston. Chartered Accountant.

MAN Group DAVID (ANDREW) HORTON AUDIT & RISK, AND NOMINATION COMMITTEES Currently serves as Chief Executive and Member of the Executive Committee at Beazley, a role he has held since 2008. Previously, served as Group Finance Director at Beazley between 2003 and 2008 serving on the Executive Committee. Previous roles with ING Bank, Lloyds Banking Group and National Westminster Bank.

MAN Group DEV S. SANYAL Currently Executive Vice President and Member of the Group Executive Committee at BP. Previously, held a number of regional and divisional leadership roles with BP since 1989 including Division Chief Executive Officer for Air BP, Division Chief Executive for BP Eastern Mediterranean Fuels, and Head of Group Chief Executiveâ&#x20AC;&#x2122;s Office. Between 2007 and 2011, he was Group Treasurer and Chairman of BP Investment Management.

Marks & Spencer ANDREW (ANDY) NIGEL HALFORD AUDIT, GOVERNMENT AND NOMINATION COMMITTEES Currently Chief Financial Officer of Vodafone since 2005 (will be leaving this role in 2014 in June to join Standard Chartered as the Group Finance Director), having joined as UK Finance Director and, later, Chief Financial Officer of Verizon Wireless. Also serves on the Board of Cellco Partnership as Representative Director. Previously Group Finance Director at East Midlands Electricity and former Chairman of the Hundred Group of Finance Directors. Qualified Chartered Accountant.

Merlin Entertainment SOREN THORUP SORENSEN Currently Chief Executive Officer of Kirki, the holding company of the Kristiansen Family with holdings in Lego. Additionally, serves on the boards of Topdanmark, Lego Group and TDC. Previously, served as Group Chief Financial Officer of Moller-Maersk between 2006 and 2009. Former Managing Partner of KPMG Denmark where he was the external auditor for Moller-Maersk. Certified Public Accountant.

Mitchells & Butlers COLIN RUTHERFORD AUDIT, NOMINATION AND REMUNERATION COMMITTEES Previously Chairman of Miton Group and Intelli Partners. Previously served on the Board of Topaz Energy & Marine between 2005-2013. Currently an Executive Director on the Board of Imagine Homes since 2007. Founder of Rutherford Manson Dowds since 1986.

THE CLASS OF 2013

MoneySupermarket.com ROBIN MATHEW KLEIN REMUNERATION COMMITTEE Currently Venture Partner at Index Ventures since 2010 and Founding Partner of early-stage investment company The Accelerator Group. Former Managing Director of Marketing and Home Shopping at the Arcadia Group, and Chief Executive Officer of the Innovations Group following experience as an entrepreneur. Currently Chairman of Moo Print, and serving on the board of Index portfolio companies.

Morgan Advanced Materials ANDREW (ANDY) REYNOLDS SMITH Currently in executive role with GKN having responsibility for Automotive and Powder Metallurgy Divisions. Formerly held various roles with GKN as Division Chief Executive of Powder Metallurgy, Offhigh and Industrial Services Business and HKN Sinter Metals. Vice President of the European Association of Automotive Suppliers.

Murray Income Trust NEIL ROGAN Previously Global Equities Director for Henderson Global Investments. Prior to this Head of Global Equities for Gartmore, HK Investment Manager for Jardine Fleming and Head of Pacific Region Portfolios Group for Robert Fleming.

New World Resources DOCTOR ALYSON CLAIRE WARHURST Currently Chief Executive of Maplecroft, a risk and strategic consulting firm she founded in 2007. In addition, she is an Honorary Professor of Strategy & International Development at Warwick Business School and a Division Director for Mining & Environment Research Network at the University of Bath. Previously, she held a number of research roles and Professorships at the University of Sussex, University of Bath School of Management and Warwick Business School where she was a Professor for ten years.

NMC Health JONATHAN BOMFORD AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently Family Representative and Investment Officer at the Douglas Bomford Trust, a fund focused on the development of science and engineering in agriculture. Former Partner at Ernst & Young, with roles in the Middle East and East Africa working across a number of sectors, including healthcare, oil, banking and construction. Chartered Accountant.

Old Mutual DANUTA GRAY AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently also sits on the boards of Paddy Power and Michael Page International, and chairs the Advisory Board for Telefonica’s European CSR Programme “Think Big”. Has held various positions at BT Group, including Division Director, Deputy General Manager and General Manager. Has also sat on the Boards of Telefonica Europe, Permanent TSB Group Holdings, Aer Lingus and was the Chief Executive of Telefonica O2 in Ireland. Formerly Chairwoman of the Barretstown Gang Camp Fund.

THE CLASS OF 2013

Old Mutual NKOSANA DONALD MOYO AUDIT, NOMINATION, REMUNERATION AND RISK COMMITTEES Currently Vice President and Chief Operating Officer of African Development Bank in tandem with several trustee positions (Investment Climate Facility for Africa, and the Mandela Institute for Development Studies.) Previous roles have included Associate Director at World Bank, Country Head for Zimbabwe for Standard Chartered and African Reginal Head at Standard Chartered.

Ophir Energy ALAN BOOTH AUDIT, REMUNERATION, ENVIRONMENTAL, H&S AND TECH COMMITTEES Founder of Encounter Oil, having previously held managerial roles at other oil and gas exploration companies including Encana Corporation, Oryx Energy and Amerada Hess. Formerly served on the Board of Egdon Resources and Founder of Encore Oil. He is a former President of the UK Offshore Operators Association (UKOOA) and currently a Director of the Oil and Gas Independents Association (OGIA).

Ophir Energy VIVIEN MURRAY GIBNEY HEALTH, SAFETY & ENVIRONMENT AND REMUNERATION COMMITTEES Most recently served as General Counsel, Company Secretary and Head of HR at Enterprise Oil. Non-executive roles have included: University of Northampton and Opera North. More recently, served on the Board of Encore Oil, where she Chaired the Remuneration Committee.

Ophir Energy WILLIAM (BILL) SCHRADER AUDIT, HEALTH, SAFETY & ENVIRONMENT AND TECHNICAL ADVISORY COMMITTEES Currently serves on the boards of Hess Corporation and Bahamas Petroleum Company where he has joined as Chairman in 2014. Former Chief Operating Officer of TNK-BP, following a 30-year career with BP in various commercial roles in the US, Asia and Africa. Previously was Regional President of Azerbaijan and Indonesia, and Chief Executive of Angola for BP.

Oxford Instruments JENNIFER ALLERTON AUDIT, NOMINATION, AND REMUNERATION COMMITTEES Currently also serves on the Board of Aveva Group. Formerly Member of the Executive Committee and Chief Information Officer of F. Hoffman-LaRoche Pharmaceuticals from 2002 to 2012. Previously on Executive Committee of Barclaycard as CIO, CIO at BOC and various operations and business development positions at Cable & Wireless and Unilever.

Oxford Instruments THOMAS GEITNER AUDIT, NOMINATION AND REMUNERATION COMMITTEES Most recently Executive Vice President of Henkel, responsible for their Adhesives Technologies division. Previously, Divisional Chief Executive Officer of Vodafoneâ&#x20AC;&#x2122;s New Business and Innovation division, having joined the company as Chief Executive Officer of Global Products and Services and later Chief Technology Officer. Formerly served on the boards of BBC Worldwide, Solocal Group and Heidelberger Druckmanschinen.

THE CLASS OF 2013

Partnership Assurance PETER ANTHONY CATTERALL Currently serves as a Partner at Cinven as well as serving on the boards of Gondola Group and Suitcase One. Previously, held a number of roles at Cinven including member of the Financial Services and Consumer Sector team.

Partnership Assurance MAXIM DEVIN CREWE Currently Principal within the Financial Services practice at Cinven, a role he has held since 2006. Previously worked at Citigroup where he was a Member of the European Retail & Consumer Group.

Partnership Assurance DOUGLAS FERRANS AUDIT AND RISK COMMITTEES Currently serves on the Board of the Takeover Panel, a role he has held since 2009. Previously, served as Executive Chairman on the Board of Invista Real Estate Investment Management Holdings. Formerly served as Chief Executive of Insight Investment Management from 2002 and 2008. Other roles have included Chief Executive of Scottish Amicable and Marketing Director at Britannic Asset Management.

Partnership Assurance IAN BRUCE OWEN NOMINATION AND RISK COMMITTEES Currently serves on the boards of Unum, Canopius Managing Agents, Guardian Group and A-Plan Insurance. Former Chairman of the preIPO Partnership Group, a role he held since its formation in 2005. Previously served on the boards of Resolution Life, AA Insurance, Endsleigh Insurance and Liverpool Victoria. In addition, his executive career includes being the Chief Executive of Eagle Star International Life and Managing Director of Zurich Personal Lines.

Partnership Assurance DOCTOR RICHARD CHURCHILL WARD NOMINATION AND REMUNERATION COMMITTEES Currently serves on the Board of Brit Insurance as Chairman, a role he took on in 2014. Previously served as Chief Executive of Lloyds of London between 2006 and 2013. Additional past roles included time spent with BP as Head of Business Development and Chief Executive of International Petroleum Exchange of London.

Partnership Assurance DAVID THOMAS YOUNG AUDIT, NOMINATION AND RISK COMMITTEES Currently serves on the boards of the Audit Review, Weatherbys Hamilton and British Gas Services. Former Chairman of Annuity Direct. Executive roles include time spent with Barchester Group as a Partner between 2001 and 2006, and the Chief Executive of Bradstock Group, the reinsurance broker. Joined the Partnership Board in 2005.

THE CLASS OF 2013

Pearson LINDA KOCH LORIMER Currently Vice President for Global and Strategic Initiatives at Yale University. Appointed Secretary of Yale in 1993, having been President of Randolph-Macon College from 1987. Previously, law career with Davis Polk & Wardwell. Currently sits on the Board of McGraw Hill Financial. Previously served on the boards of Centel and First Colony Life Insurance.

Pearson HARISH MANGHAN MANWANI NOMINATION COMMITTEE Currently Chief Operating Officer at Unilever responsible for all markets. He currently serves on the boards of Singapore Economic Development Board, Whirlpool Corporation and Hindustan Unilever. Previously, he held a number of roles with Unilever across Asia, Africa and Eastern Europe, most recently serving as Regional President for Asia, Africa, and Central & Eastern Europe between 2008-2011. He has additionally held roles with responsibility for global hair care, personal care and detergents.

Petrofac Ltc KATHLEEN (KATHY) APPLEGATE HOGENSON AUDIT, NOMINATION AND RISK COMMITTEES Previously the Chief Executive of Zone Energy and held executive roles with Santos between 2001-2007. She began her career with Maxus Energy prior to moving to Forest Oil in 1997 as an Engineering Manager. Currently on the boards of Australian American Chamber of Commerce and Parallel Petroleum.

Platform Specialty Products NICOLAS BERGGRUEN COMPENSATION AND NOMINATING & POLICIES COMMITTEES Currently serves as Chairman & President of Berggruen Holdings, an investment firm he co-founded in 1984. Earlier career includes time spent with Bass Brother Enterprise and Jacobson & Co. Co-founded Alpha Group in 1988 which was sold to Safra Bank in 2004.

Platform Specialty Products MICHAEL (MIKE) FENTON GOSS AUDIT COMMITTEE Formerly served as Chief Financial Officer and Head of Investor Relations for Bain Capital between 2004 and 2011. Previous roles include Chief Financial Officer at Digitas and Playtex. Currently serves on the Board of Tennis Channel.

Platform Specialty Products RYAN ISRAEL AUDIT, NOMINATING & POLICIES AND REMUNERATION COMMITTEES Currently serves as a Partner at Pershing Square Capital Management since 2009. Previously held various roles with Goldman Sachs in the Technology, Media & Telecom Division.

THE CLASS OF 2013

Platform Specialty Products EARNEST (STAN) STANLEY Oâ&#x20AC;&#x2122;NEAL REMUNERATION COMMITTEE Currently serves on the Board of Alcoa. Formerly held senior executive leadership roles with Merrill Lynch between 1986 and 2003 including Chief Executive, Chief Operating Officer, Chief Financial Officer and Head of Global Capital Markets. Subsequently became the Chairman of Merrill Lynch in 2003 retiring from this role in 2007. Formerly served on the boards of Blackrock, General Motors and Nasdaq OMX.

Playtech HILARY STEWART-JONES AUDIT, COMPLIANCE, REMUNERATION, AND RISK COMMITTEES Formerly a Partner with DLA Piper UK within the Intellectual Property and Technology Group between 2011-2013. She spent five years in house as Head of Gambling Division at Ladbrokes. She was previously a Senior Client Partner at Berwin Leighton Paisner and the Head of the Gaming Practice.

Premier Farnell PETER J VENTRESS Currently the Chief Executive Officer of Berendsen, a role he has held since 2010. Previously he was President of Staples International and held various leadership roles within Corporate Express including being Chief Executive Officer from 2007. Has held a number of senior management roles in the UK, Canada, France and the Netherlands.

Prudential ANTHONY JOHN NIGHTINGALE REMUNERATION COMMITTEE Currently holds a number of quoted board positions including Schindler Holdings, Dairy Farm International, Hong Kong Land Holdings, Jardine Matheson Holdings and Mandarin Oriental International. Between 2002 - 2012, was Managing Director of Jardine Matheson Holdings and Chairman of Jardine Cycle & Carriage.

Prudential ALICE DAVEY SCHROEDER AUDIT COMMITTEE Former Managing Director of Morgan Stanley, having taken on a Senior Advisor role in 2003 before retiring in 2009. Currently on boards of WebTuner Corporation and Cetera Financial Group. Formerly Managing Director at Paine Webber Group and Oppenheimer & Co. Currently a Financial Columnist with Royce Carlton. Qualified Chartered Accountant with Ernst & Young.

Randgold Resources JEANINE MABUNDA LIOKO MUDIAYI Former Government Minister in the Democratic Republic of Congo and Advisor to the Cabinet of the Central Bank of Congo. Previously, Managing Director of Fonds de Promotion de Lâ&#x20AC;&#x2122;Industrie and served in various positions with Citibank in Congo.

THE CLASS OF 2013

Rathbone Brothers JAMES DEAN Currently serves on the boards of The Stafford Railway Building Society and LV=. Formerly Managing Partner for UK Financial Services Audit Practice and Global Insurance lead at Ernst & Young. Qualified Chartered Accountant.

Reckitt Benckiser NICANDRO DURANTE NOMINATION COMMITTEE Currently Group Chief Executive of British American Tobacco, having originally joined the firm’s Board as Chief Operating Officer. Formerly worked in a number of finance roles for BAT’s Brazilian subsidiary Souza Cruz before becoming President in 2002.

Renishaw JOHN JEANS AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently Chairman of the Council of Cardiff University and Imanova. In addition, serves on the boards of MRC Technology and University and College Employers Association. Held senior international leadership positions in blue chip companies including Smith & Nephew, Bristol Myers Squibb, Johnson & Johnson and Amersham (now GE Healthcare). At GE, he headed the commercial function of GE’s Life Science business and was the Chairman of its UK Healthcare Company.

Resolution KARL STEPHEN STERNBERG AUDIT AND INVESTMENT OVERSIGHT COMMITTEES Currently serves on the boards of Monks Investment Trust, Lowland Investment, Friends Life Group, and Chairman of JPMorgan Income & Growth Investment Trust and Oxford Investment Partners. Previously a Trustee of Whitbread Pension Trustees, Chief Investment Officer Europe and Asia for Deutsche Asset Management and Fund Manager for Morgan Grenfell Asset Management.

Resolution JOHN TINER Currently serves on a number of boards including Friends Life Group, Credit Suisse Group, New Star Asset Management, Lucida and Corsair Capital. Formerly, Division Chief Executive for Resolution and Chief Executive of Financial Services Authority between 2003 - 2007. Prior to joining the FSA, was the Head of Financial Services at Arthur Andersen. Will be leaving the Board of Resolution (Friends Life Group) in May 2014.

Rexam ROS RIVAZ Currently Chief Technology Officer for Smith & Nephew where she has been since 2011. Previously was Division Managing Director for Global Supply Chain at Diageo and the Chairman of Diageo NL. Career prior to Diageo includes roles with Exxon Chemical, ICI and Premier Foods.

THE CLASS OF 2013

RIT Capital Partners HANNAH MARY ROTHSCHILD Currently a Senior Editor of Harperâ&#x20AC;&#x2122;s Bazaar UK. She serves on the boards of a number of philanthropic trusts such as the National Gallery, Tate Foundation, Waddesdon Manor and Courtauld Institute of Art. She has produced a number of documentaries shown on the BBC, HBO and London Film Festival.

Riverstone Energy PETER K BARKER AUDIT, MANAGEMENT ENGAGEMENT AND NOMINATION COMMITTEES Currently serves on several foreign listed boards including Franklin Resources, Fluor and Avery Dennison. In addition, serves as President of the Fletcher Jones Foundation. Earlier career spent with Goldman Sachs where he joined in 1970 and has held various executive roles including Partner in Investment Banking and Head of West Coast Investment Banking Region. Other past board roles include time with Lenox Group, Ameron International, Stone Energy and Saratoga Investment. Also served as the Regional Chairman for California for JP Morgan Chase between 2009 and 2013.

Riverstone Energy PATRICK ANTHONY FIRTH AUDIT, MANAGEMENT ENGAGEMENT AND NOMINATION COMMITTEES Currently serves on the boards of Nextenergy Solar, GLI Finance, BH Credit Catalysts and JZ Capital Partners. Previously held various executive roles with KPMG, Rothschild Asset Management, BISYS Fund Services and Butterfield Fulcrum Group. Formerly served on the boards of JP Morgan Progressive Fund and London & Stamford Property. Qualified Chartered Accountant.

Riverstone Energy JAMES (JIM) T HACKETT Currently serves as a Partner and Co-Head of the Houston Office at Riverstone Holdings. In addition, serves on a number of foreign listed boards including Enterprise Products Partners, Cameron International and Fluor. Formerly served as Chief Executive of Anadarko Petroleum from 2006 to 2012, taking up the Executive Chairman role in 2012 and retiring in 2013. Other past board roles have included time with Bunge, Halliburton, Temple Inland and Kaiser Aluminum. Past executive roles have included leadership roles with Ocean Energy (previously Seagull Energy), Natural Gas Clearing House and Duke Energy.

Riverstone Energy PIERRE FERNAND LAPEYRE JR Currently serves on the boards of Quorum Business Solutions, Enduro Resource Partners and a number of specialist energy boards. Previous executive career includes various roles with Goldman Sachs between 1986 and 2000 including Managing Director within the Global Energy & Power Group. Formerly held board roles with Stallion Oilfield Services, Cobalt International Energy, Dresser, Mariner Energy and Magellan Midstream Partners amongst others.

THE CLASS OF 2013

Riverstone Energy DAVID M LEUSCHEN Currently serves as a Senior Managing Director at Riverstone Holdings, the private equity firm he founded focused on energy and power sectors. In addition, serves on the boards of Switchbank Ranch, Dynamic Industries, Fieldwood Energy and Frontier Drilling amongst others. Prior to this, he was a Partner at Goldman Sachs and Founder of the Global Energy & Power Group. He joined Goldman Sachs in 1977 and retired in 2000. Previous board roles have included time with Buckeye Partners, Mariner Energy and EP Energy.

Riverstone Energy DOCTOR TIDU MAINI Currently serves as the Executive Chairman of the Qatar Science & Technology Park. Previously was the Chairman of the London 2012 Olympic Technology Board. He has over 30 years of experience in the management of technology companies in the defence, electronics, energy and ICT sectors. Formerly Senior Vice President at Schlumberger and has sat on the boards of Sema Group, GEC Marconi and Imperial Innovations.

RSA Insurance KATHLEEN (KATH) MARY CATES AUDIT AND RISK COMMITTEES Currently the Chief Operating Officer for Wholesale Banking at Standard Chartered. Previously she held various roles including Global Head of Compliance, Head of Management, Head of Compliance for Asia Pacific and Head of Compliance for Investment Banking at UBS.

Royal Bank of Scotland Group ROBERT GILLESPIE Former banker having worked in various regional and global roles with UBS Investment Bank. Was Joint Global Head of Corporate Finance (1999-2004) and Regional Chief Executive for EMEA (2004-2005). Joined Evercore Partners in 2009 and was Regional Managing Director for Corporate Advisory Business for Europe. He was Director General for the Takeover Panel UK between 2010-2013. Currently on the Board of Ashurst.

Royal Dutch Shell DOCTOR GERRIT ZALM CSR COMMITTEE Currently Chairman of ABN AMRO Bank since 2009. Previously, Chief Financial Officer of DSB Bank and served as Minister of Finance and Deputy Prime Minister in the Netherlands Government. Previously, Director of General Economic Policy at the Ministry for Economic Affairs and a Professor at Vrije Universiteit Amsterdam. Former Chairman of the Trustees of the International Accounting Standards Board.

Sage Group NEIL ANTHONY BERKETT AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently serves on the boards of Guardian Media Group and Bank of Queensland. Trustee of the NSPCC since 2010. Former Chief Executive of Virgin Media, having joined NTL as Chief Operating Officer in 2005. Previously Managing Director, Distribution at Lloyds TSB, Chief Operating Officer of Prudential Assurance and Chief Executive of Trek Investco, overseeing adventure travel companies Exodus and Peregrine.

THE CLASS OF 2013

Sage Group JO HARLOW AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently Executive Vice President, Smart Devices and a Member of the Nokia Leadership Team. Prior to Nokia, she was Vice President of Marketing, Western Europe at Reebok and served in various positions with Procter & Gamble.

J Sainsbury JEAN VERONICA TOMLIN CSR, NOMINATION AND REMUNERATION COMMITTEES Currently CEO and Founder of Tomlin & Co. Formerly HR Director for the London Organising Committee for the Olympic and Paralympic Games (LOCOG). Previously, Advisor to the BBCâ&#x20AC;&#x2122;s Senior Change Team and Group HR Director at Marks & Spencer. Former HR Director of Corporate Services Group at the Egg, the internet bank. Currently Director of Michael Kors Holdings and former Board Member of the Student Loans Company.

Scottish Investment Trust JAMES WILL AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently a Council Member of CBI Scotland and acting as Chairman at Shepherd & Wedderburn since 2010. Previously, he was a Partner at Shepherd & Wedderburn between 1982-2010.

Smith & Nephew DOCTOR MICHAEL ALLEN FRIEDMAN Currently serves on the boards of Celgene Corporation and MannKind Corporation. He previously served as the Chief Executive of City of Hope, a private and not-for-profit clinical research centre, hospital and graduate medical school in California between 2003 and 2012. He was also the Chief Medical Officer of Pharmaceutical Research and Manufacturers of America. Prior to this, he held various roles with the US FDA, National Cancer Institute, and University of California, San Francisco.

Smiths Group GEORGE W BUCKLEY NOMINATION AND REMUNERATION COMMITTEES Currently Chairman of Arle Capital Partners and an Ambassador for UK Trade & Investment (UKTI). He also serves on the boards of PepsiCo, Hitachi and Stanley Black & Decker. Previously, he was President & Chief Executive of 3M Company, Chairman & Chief Executive of Brunswick Corporation and CTO for Emerson Electric. He began his career as a Researcher in the Scientific Division of Central Electricity Generating Board in 1975.

THE CLASS OF 2013

SOCO International MARIANNE DARYABEGUI AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently the Managing Director of the Corporate Finance Oil and Gas Team at BNP Paribas in Paris. Extensive experience in oil and gas corporate transactions, including structured financing and reserve based lending facilities, and has advised a wide number of oil companies across the sector. Prior to joining the Oil and Gas Team in 2006, worked for eight years in BNP Paribas’ Energy Commodities Export Project Department where she headed the Commodity Structured Finance team for the Middle East, North and West Africa. Previously spent eight years at TOTAL, working amongst other activities on upstream acquisitions and divestments in Europe and Africa.

SOCO International ROBERT GRESHAM GRAY AUDIT AND REMUNERATION COMMITTEES Former Chairman of Deutsche Bank’s UK Investment Banking and Senior Partner. Also has responsibility for the Natural Resources Group at Deutsche Bank. Founder of RegEnersys, a natural resources focused private fund. Previous roles include Director & Head of Natural Resources Group at Robert Fleming & Co (1993-1997) and other roles with James Capel & Co and Hadson Petroleum International.

SSE SUE BRUCE Currently serves as Chief Executive of City of Edinburgh Council. Former Chief Executive of Aberdeen City Council. Previously Strategic Director and then Chief Executive of East Dunbartonshire Council. Began her career with Strathclyde Regional Council, initially in social and economic regeneration and then in the wider education field.

St. James’s Place ALISON HEWITT Currently Managing Director for Retail Business Risk at Lloyds Banking Group, formerly held roles in compliance. Previously a Manager with the Financial Services Authority. Spent a few months on the Board of St. James’s before it was sold by Lloyds.

formerly of St James’s Place SUSAN (SUE) ELIZABETH HARRIS

Former Group Audit Director of Lloyds Banking Group and also Finance Director of the Retail Bank. Previously Managing Director, Finance for Standard Life. Spent the bulk of her career with Marks & Spencer where latterly roles included: Senior Manager, Strategy; Head of Corporate Development and Group Treasurer.

THE CLASS OF 2013

Stagecoach Group FRASER (GREGOR) MCGREGOR ALEXANDER AUDIT COMMITTEE Currently serves on the Board of Scotia Gas and holds the role of Finance Director at SSE. At SSE, he was previously responsible for Human Resources, IT and Procurement and was Group Treasurer between 1998 and 2002. Started his career at Arthur Andersen in 1985. He was also Chairman of the Group of Scottish Finance Directors.

Standard Bank MARTIN S PIKE INVESTMENT AND RISK COMMITTEES Formerly spent nearly 30 years as a Partner and Strategic Consultant with Towers Watson, servicing financial services clients in the UK and internationally. Also held various senior leadership positions including Global Practice Director for Insurance and Financial Services, sitting on the Global Executive Team, and was also head of Diversity and Inclusion in EMEA.

Standard Chartered OM PRAKASH BHATT RISK COMMITTEE Former Chairman and Managing Director of the State Bank of India. Currently serves on the boards of Oil and Natural Gas Corporation (ONCG), Hindustan Unilever, Tata Consultancy Services and Tata Steel. Formerly Chairman of the Indian Banks Association.

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Standard Chartered DOCTOR KURT MICHAEL CAMPBELL Founder and Chief Executive of strategic investment group Asia Group. Former Assistant Secretary of East Asian and Pacific Affairs in US State Government, Chief Executive and Co-Founder of the Centre for a New American Security, and Senior Vice President of the Centre for Strategic and International Studies. Former US Naval Reserves Officer.

Standard Chartered CHI-YAN (LOUIS) CHEUNG REMUNERATION COMMITTEE Chief Executive and Founder of Boyu Capital Advisory, a private equity firm focused on China. Previously, held various positions with Ping An Insurance, including Chief Financial Officer. Former Global Partner and Asia Pacific Financial Practice lead with McKinsey. Currently serves on the Board of Fubon Financial Holding.

TalkTalk Telecom Group JOANNA SHIELDS Currently an Ambassador for UK Trade & Investment and Chairman of Tech City. Has also been appointed to the Board of the London Stock Exchange. Previously Regional Managing Director for EMEA for Facebook and prior to that, Chief Executive of Bebo.

THE CLASS OF 2013

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TCS Group Holding JACQUES DER MEGREDITCHIAN REMUNERATION COMMITTEE Currently serves on the boards of Moscow Exchange, Russian Union of Industrialists and Enterpreneurs, and Saint Petersburg Stock Exchange. Previous executive career includes the role of Chief Business Officer at Troika Dialog Group between 2009 and 2011. Prior to this, he held the role of Head of Investment Banking at Troika. Other executive roles have included time with Societe Generale and Credit Commercial de France.

TCS Group Holding MARTIN ROBERT COCKER AUDIT AND REMUNERATION COMMITTEES Currently serves on the boards of Northumberland Tyne & Wear NHS Foundation Trust, Efko Foods and Etalon Group. Previously was a Partner at Deloitte CIS in Moscow having previously worked for KPMG and Ernst & Young in the region. Chartered accountant.

TCS Group Holding PHILIPPE DELPAL AUDIT AND REMUNERATION COMMITTEES Currently serves as a Partner in the Financial Services practice at Baring Vostok Capital Partners, the private equity firm focused on Russia and the CIS. In addition, serves on the boards of TCS Bank., HMS Group, Eastern European Trust, Komercijalna Banka Beograd, Orient Express Bank and Beta Epsilon. Previous executive roles included time as President of BNP Paribas Vostok Bank, Chief Executive Officer of Cetelem Russia and Chief Executive Officer of Rusfinance. Early career with CERN and Societe Generale.

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Telecity Group NANCY CRUICKSHANK Former Executive Consulting Director handling M&A and Investments for the Telegraph Media Group. Previously Chief Executive for VideoJug, a short-form branded video and content production services firm, and Hearst Digital, a national magazine company. Currently serves on the Board of Glam Media and is the Founder/Chief Executive of MyShowcase. Additionally, currently a director on the UK Executive Board of CEW, a not-for-profit organisation with a mission to promote the contributions of women in the cosmetics industry.

Tesco OLIVIA (LIV) RUTH GARFIELD Newly appointed Chief Executive of Severn Trent. Formerly BTâ&#x20AC;&#x2122;s Openreach Chief Executive having joined BT in 2002. Previously served as General Manager, Vice President Customer Services, Managing Director of Commercial & Brands Unit for Global Services, and Group Director - Strategy. Before BT, held roles with Accenture from 1998 to 2001.

THE CLASS OF 2013

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TR Investment Property Trust SUZIE PROCTER AUDIT AND MANAGEMENT ENGAGEMENT COMMITTEES Currently Executive Head of Institutional Client Service at Cantillon Capital Management and also a Partner of Cantillon Capital Management and a Director of TR Property Investment Trust. Previous roles include: Division Director, Fixed Income Business at Pictet International Management, Institutional Sales and Marketing Director at Invesco Asset Management and Managing Director at Lazard Asset Management.

Tui Travel SEBASTIAN EBEL Currently Chief Operating Officer at TUI, a role he assumed in 2013. Previously, was Chief Financial Officer of Vodafone and also held various role with TUI between 1995 - 2006 including Head of Controlling.

Tui Travel FRIEDRICH (FRITZ) P JOUSSEN NOMINATION COMMITTEE Formerly worked with Vodafone, covering various positions including Vice President Marketing, Regional Chief Executive and, most recently Regional Chairman/Chief Executive in Germany. Between 2008 and 2011, was Honorary Consul General for the Ministry for Foreign Affairs of Finland. Currently serves on the Board of BITKOM.

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UDG Healthcare DOCTOR GERARD W VAN ODIJK ACQUISITIONS, FINANCE AND RISK COMMITTEE Currently serves on the boards of Bavarian Nordic and Merus Biopharmaceuticals as Chairman. Previously he served as Division President & Chief Executive for Europe for Teva Pharmaceuticals Industries between 2006 and 2012. Prior to this, he held various roles with GlaxoSmithKline and served on the Board of Neurosearch.

UK Commercial Property Trust KEN MCCULLAGH AUDIT, MANAGEMENT ENGAGEMENT, NOMINATION AND PROPERTY VALUATION COMMITTEES Currently the Chief Executive of LNC Property Group and has over 20 years of experience in property and real estate. Chartered Accountant.

Unilever MADAM XUEZHENG (MARY) Z MA AUDIT AND REMUNERATION COMMITTEES Currently serves on the boards of Lenovo Group, Qumart Stores and Securities & Futures Commission. Previously, she held Chief Financial Officer roles within Lenovo between 1997 - 2007. She was also a Member of Hong Kongâ&#x20AC;&#x2122;s Digital 21 Strategy Advisory Committee in 2004.

THE CLASS OF 2013

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Unite Group ANDREW MARC JONES AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently Chief Executive of Londonmetric Property, and Co-Founder of previous entity Metric Property Investments. Former Head of Retail and Executive Director of British Land, and Executive Director of Pillar Property.

United Drug LISA RICCIARDI RISK, ACQUISITION AND FINANCE COMMITTEE Currently Senior Vice President, Business Development at Medco Health Solutions since 2010. Additionally serves on the board of Chimerix. Former Partner at Essex Woodland Health Ventures and held various roles in licensing at Pfizer. Director of Sepracor from 20072009.

Vedanta Resources DEEPAK SHANTILAL PAREKH AUDIT AND NOMINATION COMMITTEES Currently holds a number of directorships with DP World, Housing Development Finance Corporation, Glaxo India, Siemens India, Indian Hotels Company and Mahindra & Mahindra. He is also a Member of the Advisory Boards of Standard Life, Aecom Technology Corporation and Lafarge. Has worked with Ernst & Young, Grindlays Bank and Chase Manhattan Bank in various roles.

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Vesuvius NELDA J CONNORS AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently sits on the boards of Echo Global Logistics, Blount International, Federal Reserve Bank of Chicago, Boston Scientific and Pine Grove Holdings, where she is Chairwoman/Chief Executive Officer and also Founder. Former roles include Division President at Tyco International, Engineer at Monsanto, Vice President/General Manager at Eaton.

Vodafone Group OMID R KORDESTANI Currently a Senior Advisor for Google. Former roles at Google include Senior Vice President Business Development and Senior Vice President Sales. Previously Vice President of Hewlett Packard and Netscape Communications Corp. Has held various positions in marketing, product management and business development at 3DO and Go Corporation.

WH Smith CELIA FRANCES BAXTER AUDIT COMMITTEE Previously worked for Serco where roles included Financial Controller and then Finance Director, Serco Solutions. Member of Opportunity Now Advisory Board, part of Business in the Community (focusing on gender diversity in the workplace). Additionally a mentor on the ICAEWâ&#x20AC;&#x2122;s Women in Leadership Programme.

THE CLASS OF 2013

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WH Smith SUZANNE CLAIRE BAXTER AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently Group Finance Director and Interim Company Secretary at Mitie Group. Joined Mitie in 2006 following finance and operations career with Serco Group. Chartered Accountant.

Wolseley MARIA PILAR LÓPEZ ÁLVAREZ AUDIT, NOMINATION AND REMUNERATION COMMITTEES Currently Chief Financial Officer of Telefonica Europe since 2007, having held various roles in Strategy across Europe and Latin America. Joined Telefonica as Head of Planning following a career with J.P. Morgan, latterly as Vice President in New York.

John Wood Group THOMAS M BOTTS NOMINATION AND SAFETY & ASSURANCE COMMITTEES Executive Vice President of Global Manufacturing for Shell’s US Downstream Division since 2009. Previously, Regional Executive Vice President for European Exploration and Production. Early career with Shell’s US subsidiary, holding a number of operational roles. Currently serves on the Board of Enpro Industries.

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Workspace Group DAMON JAMES RUSSELL Damon founded Telecom Express in 1989 and has remained on the Board as Chairman, a role he has held since 2010. Prior to this, he acted as the Chief Executive between 2001 and 2010. He currently also serves on the Board of IMEXmobile.

WPP ROGER AGNELLI AUDIT, GOVERNANCE, NOMINATION AND REMUNERATION COMMITTEES Former President & Chief Executive Officer of Vale between 2001-2011 where he was Chairman between 2000-2001. Has held a number of directorships in the energy industry including Duke Energy, Petroleo Brasileiro and Spectra Energy. Currently on the boards of Anadarko Petroleum Corporation and ABB where he has been a Director since 2002.

WPP CHARLENE T BEGLEY AUDIT COMMITTEE Currently serves on the Board of NASDAQ OMX Group. Former Chief Information Officer of General Electric and Chief Executive of GE Home & Business Solutions between 2007-2013. Joined GE in 1988 and has worked across a number of divisions including GE Transportation, GE Plastics and GE Home and Business Solutions.

THE CLASS OF 2013

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WPP DANIELA RICCARDI REMUNERATION COMMITTEE Since 2013, Chief Executive of French crystal products maker Baccarat. Previously Chief Executive of Diesel, joining the company in 2010 from Procter & Gamble after 25 years in a number of commercial roles, most recently as Regional President of their Greater China subsidiary.

WPP HUGO XIAOGE SHONG AUDIT, GOVERNANCE, NOMINATION AND REMUNERATION COMMITTEES Founding General Partner of IDG Capital Partners since 1993 and currently serves as the Chairman of IDG Greater China which is behind Baidu, Tencent, Sohu, Ctrip and Soufun. He has launched over 40 magazines in China and Vietnam including Chinese editions of Cosmopolitan, Harper’s Bazaar, National Geographic and PC World.

WPP SALLY SUSMAN GOVERNANCE AND NOMINATION COMMITTEES Currently Vice President of Communications and Policy Affairs at Pfizer since 2010. Has held various executive roles in communications with Pfizer, Estée Lauder and American Express. Previously with the US Department in Assistant Secretary roles. Serves on the boards of Library Congress Trust Fund and is a Commissioner for the New York City Commission on Women’s Issues.

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WS Atkins ALLISTER GORDON LANGLANDS AUDIT AND NOMINATION COMMITTEES Current Chairman of Wood Group, having previously held Chief Executive and Finance roles. Former Partner with Coopers & Lybrand in Corporate Finance. Also serves on the boards of Maven Income & Growth VCT 5, Exova Group and Standard Life UK Smaller Companies Trust. Qualified Chartered Accountant.

WS Atkins THOMAS (TOM) CHRIS LEPPERT NOMINATION COMMITTEE Currently Chief Executive Officer of Kaplan. Former Mayor of Dallas, Texas. Previously Chairman and Chief Executive Officer of the Turner Corporation, the largest general builder in the United States. Prior to this was Vice Chairman of Pacific Century Financial Corporation and its major subsidiary the Bank of Hawaii. Has also been President & Chief Executive Officer Castle & Cooke Properties, and national partner of Trammell Crow Company. Early career at McKinsey & Co., where he was elected as a Principal. Appointed White House Fellow.

ÂŠ 2014 The Korn Ferry Institute

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