By looking at Morrison’s Corporate Governance we can see that a lot of work has been done during the year in order to comply with each of the point of the UK Corporate Governance Code. Effectiveness of the Board was considered within the context of three key criteria:* Ability to achieve its objectives with regard to company strategy * Ability to work together effectively * Ability to maximise its use of timeThere also was some training received by the Board during the year on different topics like health and safety, food safety, merger control, the Bribery Act and the Group’s compliance procedures, etc.This training was also shared across company with management Board to ensure that there is necessary knowledge as well. During the year Directors were attending the following Board and Committee meetings: Remuneration Committee; Audit Committee; Nomination Committee and Remuneration Committee. In each of these meeting important topics where discussed so company could work to a high standards by controlling various processes within an organisation to meet the rules of Corporate Governance.
Company took serious every weakness or risk into account so whether any appeared Board would take the necessary steps to remedy them. Also Morrison’s paid a lot of attention to shareholder relations. There were made regular meeting where Chief executive, Group Finance Director met with analysts and institutional shareholders. The Chairman him self regular met with major shareholders to find out what their opinions and to encourage them to contact him if they want to discuss any aspect of the Group.Basically company was trying to make their best to meet all the policies and procedures of Corporate Governance working toward company goals. We haven’t red any other companies Annual Reports and their Corporate Governance Reports but by looking at Morison’s you can see that they are taking it very seriously and putting as much effort as they can by communicating a lot as communication is an important part of every businesses success.
They were monitoring every step in business and later on discussing it in meetings to find out other people opinions and decided whether they are on the right track.
