SUZUKI GB PLC
Section 172 of the Companies Act 2006 requires each director to act in a way they consider, in good faith, would most likely promote the success of the Company for the benefit of its shareholders. In doing this, the director must have regard, amongst other matters, to:
(a) the likely consequences of any decision in the long term;
(b) the interests of the company's employees;
(c) the need to foster the company's business relationships with suppliers, customers and others;
(d) the impact of the company's operations on the community and the environment;
(e) the desirability of the company maintaining a reputation for high standards of business conduct; and
(f) the need to act fairly as between members of the company.
The Company Directors have delegated these responsibilities to the Board of Directors who generally meet at least weekly. The Board of Directors have complied with these requirements. For example, open and constructive dialogue with our employees and other key stakeholders is critical to inform the Board's decisions in both the short and long term. An example of this is our employee forum, attended by both senior management and employee representatives. Also, while the Board has overall responsibility for managing relationships with all our stakeholders, our divisional set up allows for more effective stakeholder engagement, particularly with our key partners within our dealer network and third party suppliers. Weekly meetings of the Board provide a regular forum for the timely raising of issues for discussion, including periodic attendance from our internal audit function who report directly to the Board.
26 September 2023