Section 172 statement
This statement contains an overview of how the directors have performed their duty to promote the success of the Company as set out in Section 172(1) of the UK's Companies Act 2006.
Section S172 responsibilities
The Board, in line with its duties under section 172 of the Companies Act 2006, must act in a way that gives due regard, among other matters, to: the likely consequences of any decisions in the long term; the interests of the company’s employees; the need to foster the company’s business relationships with suppliers, customers and others; the impact of the company’s operations on the community and environment; the desirability of the company maintaining a reputation for high standards of business conduct; and the need to act fairly between members of the company. For Further information about how these duties have been applied can be found throughout the FY 2020/21 Annual Report, as set out in the following table:
| Consequences of decisions in the long term | Chief executive’s review > strategy update | 8 |
| Our strategy > sustainable business growth, risk mitigation | 14 | |
| Principal risks and uncertainties | 35-37 | |
| Going concern and viability statement | 38-39 | |
| Board activity FY 2020/21 | 90 | |
| Interests of the company’s employees | Our people | 20-23 |
| Our strategy > world-class talent | 14 | |
| Company’s business relationships with suppliers, customers and others | Our end-markets | 4 |
| Our business model > what we do, the value that we create | 12-13 | |
| Our strategy > customer value | 14 | |
| Impact of the company’s operations on the community and environment | Our business model > what we do, the value that we create | 12-13 |
| Our strategy > operational excellence Innovation | 14 | |
| Innovation | 17-19 | |
| Sustainability and ESG | 24-33 | |
| Maintaining a reputation for high standards of business conduct | Our business model > what we do, the value that we create | 12-13 |
| Act fairly between members of the company | Our shared values | 5 |
| Our business model > what we do, the value that we create | 12-13 | |
| Engaging with stakeholders | 88-89 |
Further details on how the Company and Board engage with stakeholders are found on pages 88 to 89. Details of key decisions taken by the Board and how stakeholders were considered are provided on page 90.