Corporate Governance
Information and professional development
The Chairman, with the support of the Company Secretary & General Counsel, is responsible for ensuring the Directors continually update their skills, knowledge and familiarity with National Grid. The aim is to ensure that Board members are equipped and have adequate information to enable them to play a fully effective part on the Board.
A new Director's knowledge of the Company and its operations is facilitated upon appointment to the Board via a tailored and wide-ranging induction programme. For example, on the appointment of Linda Adamany on 1 November 2006, this programme included the provision of past Board materials and presentations to provide background information on the Company's businesses and operations. Information on the Board's processes, compliance and governance was also supplied through a Day One Information Pack. Site visits and meetings with key senior management personnel and Executive Directors were also arranged. The aim of the induction programme was to equip her with up to date knowledge of the Company and its businesses to enable her to participate fully and effectively at Board meetings at an early date following her appointment.
Mark Fairbairn, being already a senior executive within the Company, received no formal induction on his appointment to the Board with regard to the Company and its operations. However, he did receive a briefing from the Chairman and the Company Secretary & General Counsel regarding his role as a member of the Board. Steps are also being taken to ensure he is familiar with all areas of the business, particularly those outside his previous direct experience.
Following appointment, Directors' attendance at meetings is continually monitored to ensure key site visits and presentations are not missed. Directors are also encouraged to attend external courses where they feel such education and training would support their position on the Board and its Committees. In particular, this is aimed, where necessary, at keeping Directors informed of current issues, emerging developments or increasing their effectiveness as a Director. Directors can ask the advice of the Company Secretary & General Counsel and are also given access to independent professional advice, at the Company's expense, as necessary. No independent professional advice was requested by any of the Directors during the year other than that already provided to Committees by external advisors such as the consultants to the Remuneration Committee.
Particular attention is paid to the development of the Executive Directors. Development programmes put in place for their benefit include external mentoring, attendance at external courses and business schools and experience of other boardrooms through non-executive appointments. With the agreement of the Board and as part of their personal development, the Chief Executive, Steve Holliday, is a Non-executive Director of Marks and Spencer Group plc and Steve Lucas, Finance Director, is a Non-executive Director of Compass Group PLC.