Corporate governance

The Board’s role

To read more about the Board’s role, click here.

Devolved structure

The Group operates a devolved operating company model. Responsibility for the day-to-day management of the Group’s activities, governance and oversight is delegated to executive directors. They are supported in this role by an experienced senior leadership team who are encouraged and empowered to operate our subsidiary companies as autonomous business units.

The senior leadership team comprises the managing directors of each operating company, along with individuals responsible for the key centralised Group functions.

The executive directors formally meet with the senior leadership team on a regular basis, through local operating company Board meetings and Executive Committee and Leadership Team meetings. These more formal meetings are supported by several cross-business forums that serve to facilitate the sharing of knowledge, ideas and best practice. These meetings and forums are an essential part of the Group’s devolved management approach, facilitating quality discussion and decision making while also preserving the management and autonomy of local operations within the Group’s core beliefs and attitudes. We believe that this approach encourages the right balance between local and Group initiatives and facilitates the sharing of best practice and expertise across the Group, while ensuring that we deliver more operating collectively than we would independently.

To read more about the Group Executive Committee and Leadership Team click here.

Go-Ahead’s governance framework

To read more about our governance framework  and how flow of authority is delegated throughout the Group, click the link.

Board Mandate

The Board Mandate was adopted by the Board to help articulate its purpose and accountabilities in delivering the Group’s strategy. The Board Mandate is an important reference point in Board deliberations, decision making, supporting Board effectiveness reviews and the induction of new Board members.

To read more about the Board Mandate, click the link.

Compliance with the UK Corporate Governance Code

The Group is subject to the principles and provisions of the UK Corporate Governance Code (the Code) issued by the Financial Reporting Council (available from www.frc.org.uk). 

Throughout the year ended 3 July 2021, the Board considers that it has substantially complied with the provisions of the Code and consistently applied the principles.  

As reported last year, in compliance with Provision 36 of the Code, a formal policy for post-employment shareholdings has been introduced in conjunction with the new remuneration policy which will be put to shareholders for approval at the General Meeting of shareholders to be convened in Spring 2022. Furthermore, in line with both the implementation of our new remuneration policy and the resumption of the Board’s rolling programme of visits to operating companies which were postponed at the start of the pandemic, we will be developing our remuneration-related engagement with the workforce and will be implementing over the year ahead, as per the requirements of Provision 41. This will be part of the Board’s existing workforce engagement programme and more details will be included in next year's Annual Report and Accounts.

To read the corporate governance report in full, click here.