Strategic Report
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the opportunity. In addition, being able to provide more granular data will allow the Company to become an insight-led organisation; • More deep dives on topics of interest – As part of the strategy refresh, the Board looked into growth areas of the business such as decumulation. In addition, there has been significant focus on CASS throughout the year, with external advisers presenting to the Board on this topic; and • Earlier circulation of meeting minutes – Board meeting minutes are now circulated to the whole Board following review by the Chair. Corporate governance The Company has chosen to follow the Corporate Governance Code and reports against the 2018 version of the Code. The Company confirms that it intends to report against the updated 2024 version of the Code when that version of the Code comes into effect for our accounting period beginning on 1 July 2025. Approval This report in its entirety has been approved by the Committee and the Board of Directors on its behalf by:
Recruitment of new Chair On 7 February 2023, it was announced that Alan Carruthers, the Company’s Chairman, would be leaving the Company with immediate effect due to health reasons. Richard Price, the Company’s then Senior Independent Director, took over as Acting Chair. The Company then began a search process to identity a permanent replacement. Commencement of search The Company’s Board of Directors were asked to provide input on the qualities and attributes they would want to see in the new Chair and their responses were used to shape the profile of candidate being sought. The Company, led by the new Senior Independent Director, Robert Burgess, then began to put together a diverse list of potential candidates. This involved both direct introductions and Spencer Stuart, an executive search firm. This is the first time the Company has used the services of Spencer Stuart.
Long list Robert Burgess met with six candidates in order to assess their suitability for the role, both in terms of their expertise and background but also how well they would align with the Company’s values. Those individuals who he felt were best matched for the position were then invited to further meetings with other Directors. Short list The three candidates who emerged from this process next met with the Acting Chair and the Company’s Executive Directors. As a result of these meetings, a preferred candidate emerged, Maarten Slendebroek. The Company then engaged an external consultant to perform a leadership assessment on Maarten, gauging his leadership capability against the role requirements. Nomination Committee meeting On 6 November the Company’s Nomination Committee met to consider the preferred candidate. The Committee discussed his skills and experience, as well as his likely cultural fit. Following the discussion, it was agreed to offer Maarten the role, subject to satisfactory references.
Appointment of Maarten Slendebroek
On 27 November 2023 the Company announced the appointment of Maarten Slendebroek as Chair, subject to regulatory approval, and as a Non-Executive Director with immediate effect.
Potential candidates This initial search produced around
Maarten Slendebroek Nomination Committee Chair
30 potential candidates. Spencer Stuart held conversations with some of these in order to reduce the list of candidates down to a more manageable number. This narrowing down process resulted in a long list of candidates who were invited to meet with Robert Burgess.
11 September 2024
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Brooks Macdonald Group plc Annual Report and Accounts 2024
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