2. The Board and its Committees
The section 172(1) statement for Tate & Lyle International Finance PLC from the most recently approved accounts is set out below:
When making decisions, the Directors have regard to the matters set out in section 172 of the Companies Act 2006 and seek to take the course of action that it considers best leads to the success of the Company over the long term, and for the benefit of its shareholder as a whole.
The Company is a subsidiary of Tate & Lyle PLC, and the Company’s key stakeholders are its ultimate beneficial owner, Tate & Lyle PLC, related Tate & Lyle subsidiaries and the stakeholder groups set out in Tate & Lyle PLC’s 2022 Annual Report.
Most engagement with the Company’s key stakeholders is integrated within the governance framework of the Group, and the Directors are mindful of the Company’s strategic priorities and alignment with the Group’s overarching purpose, strategy, culture and values. Engagement with the ultimate shareholder, Tate & Lyle PLC, is principally effected through the Executive Committee of the Group. From time to time, members of the Company’s Board provide updates on business and operational performance, environment, safety and people matters to the Executive Committee. When there are circumstances where the Company itself judges that it should engage directly with certain stakeholder groups or on certain issues, the size and spread of both the Company’s stakeholders and the Group means that most stakeholder engagement takes place at a Group level.
Further details on how the Group engaged with its stakeholders including suppliers, customers and others in business relationships, can be found in the 2022 Annual Report for Tate & Lyle PLC on pages 90 to 94.
In accordance with the Companies Act 2006, Tate & Lyle PLC and one of its UK subsidiaries – Tate & Lyle Mold UK Limited - is required to prepare a statement in its Strategic Report which describes how the directors have discharged their duty to promote the success of the company for the benefit of its members as a whole, while having regard to the matters set out in section 172(1) (a) to (f).
Tate & Lyle PLC’s section 172 statement is included in its 2022 Annual Report from page 95.
The section 172(1) statement for Tate & Lyle Mold UK Limited from the most recently approved accounts is set out below:
When making decisions, the Directors have regard to the matters set out in section 172 of the Companies Act 2006 and seek to take the course of action that it considers best leads to the success of the Company over the long term, and for the benefit of its shareholder as a whole.
The Company is a subsidiary of Tate & Lyle PLC, and the Company’s key stakeholders are its ultimate beneficial owner, Tate & Lyle PLC, related Tate & Lyle subsidiaries, and the stakeholder groups set out in Tate & Lyle PLC’s 2021 Annual Report.
Most engagement with the Company’s key stakeholders is integrated within the governance framework of the Group, and the Directors are mindful of the Company’s strategic priorities and alignment with the Group’s overarching purpose, strategy, culture and values. Engagement with the ultimate shareholder, Tate & Lyle PLC, is principally effected through the Executive Committee of the Group. From time to time, members of the Company’s Board provide updates on business and operational performance, environment, safety and people matters to the Executive Committee. When there are circumstances where the Company itself judges that it should engage directly with certain stakeholder groups or on certain issues, the size and spread of both the Company’s stakeholders and the Group means that most stakeholder engagement takes place at a Group level.
Further details on how the Group engaged with its stakeholders including suppliers, customers and others in business relationships, can be found in the 2021 Annual Report for Tate & Lyle PLC on pages 92 to 96.
Our Remuneration Policy was approved by shareholders in 2020 at the Annual General Meeting. A resolution was put to shareholders at the General Meeting on 30 September 2021 to make an amendment to the Policy. The amendment enables the Remuneration Committee to set performance requirements for the vesting of awards under the long term incentive performance share plan which are not restricted to financial performance conditions (as described under the current policy) but, following good corporate governance, also include those linked to environmental, social and governance (‘ESG’) metrics. The Company consulted with major shareholders to explain the intended approach.
Executive Management
Our leadership team is made up of a number of instrumental people who you can find out more about by visiting our executive management page.