Section 172 of the Companies Act 2006 sets out a number of general duties that directors owe to a company. These includes a general duty requiring directors to act in a way in which they consider, in good faith, will promote the success of the company for the benefit of stakeholders as a whole.
New statutory reporting requirements mean that Connect Health Ltd need to include a statement in the Strategic Report within their Annual Report explain how directors have had regard to the matters set out in section 172(1).
The Section 172 (1) Statement for Connect Health Ltd
The directors have had regard to the matters set out in Section 172(1)(a) to (f) in the Companies Act 2006 when performing their duties.
In making decisions, the directors take into account the potential long-term implications of these decisions. This is a core element of the group’s strategic planning process.
In order to take account of the group’s employees, leaders from each of the key functions meet regularly as the Senior Leadership Team (“SLT”), to present colleagues views from across the business and take these into account in our planning and decision making.
The board considers the need to listen to and foster business relationships with suppliers, customers and others as critical to the continued success of the business; as is awareness and consideration of the societal and environmental impact of our operations. In support of this and in addition to the day-to-day recognition of these matters the group engages in the following:
- Membership of relevant trade and business organisations, including senior employee involvement;
- Regular full-group briefings engaging with all employees on issues, concerns and performance;
- Research and innovation internally and with suppliers and customers to continually seek to introduce, develop and promote better services.
The directors recognise the need to act fairly between members of the group. Wherever a conflict or potential conflict arises, the board takes independent legal and professional advice to ensure that members are treated fairly.