Strategic report Governance Financial statements Other information NOMINATION COMMITTEE REPORT CONTINUED Role of the Nomination Committee Committee appointments are made for three-year terms and can Overview of the Committee’s activities in the year to 30 June 2021 The Committee plays a key role in reviewing and monitoring the be extended for no more than two additional three-year terms, composition of the Board and its Committees to ensure that provided that the member still meets the criteria for membership. 25% 19% each has the right balance of skills, knowledge and experience The Board regularly reviews the composition of the Committee Talent, leadership Governance succession, diversity and other to function effectively and support the Group in achieving its and makes appointments accordingly. & inclusion strategic objectives. In doing so, it conducts ongoing succession As a result of the number of appointments made during the period planning to ensure there is a diverse pipeline of talent for under review, the Committee met 10 times. The attendance of appointments to the Board and senior management to meet members at meetings across the year is set out in the table on page the Group’s current and anticipated future business needs. The 114. Other individuals attend Committee meetings at the request Committee leads the process for appointments to the Board and of the Committee Chair. This will usually include the Chief Executive re-election of Directors, having regard to the skills and experience 14% required and the need to promote diversity throughout the Group. Officer and Chief People Officer and, where relevant, the Group’s Board composition external advisers. The Committee has access to the Group and eectiveness As part of its role in ensuring the Board and its Committees are Company Secretary, who also acts as secretary to the Committee. 42% functioning effectively, the Committee also oversees the annual The Committee is authorised to obtain independent professional Recruitment evaluation of the Board’s performance and monitors the Group’s advice where it considers it necessary. progress in implementing recommendations. Approach to succession planning Due to government restrictions arising as a result of COVID-19 The Committee has responsibility for ensuring appropriate The detailed responsibilities of the Committee are set out in its the Committee has been, until very recently, meeting remotely succession planning for both the Board and the Group’s senior terms of reference, which are available on the Group’s website at throughout the period under review. The Committee does not management. In doing so, the Committee considers the Group’s www.hl.co.uk/about-us/board-of-directors. consider that these alternative arrangements have had any impact present and future needs by reference to the challenges and This report provides an overview of how the Committee has on its ability to operate effectively and discharge its obligations. opportunities it faces, its strategic objectives, its culture, and discharged its responsibilities during the period under review. the need to promotediversity of gender, social and ethnic backgrounds, cognitive and personal strengths. Composition and meeting attendance Deanna Oppenheimer (as Chair) and Roger Perkin were members To date, the Committee has adopted an approach whereby of the Committee throughout the period under review. Fiona succession planning for the Board is based on key drivers such as Clutterbuck and Shirley Garrood were members of the Committee recommendations from externally led Board evaluations, feedback until their resignations as Non-Executive Directors on 8 October from meetings with key stakeholders such as the FCA, investors, 2020 and 31 December 2020 respectively. Ada lanre Bnce ad Monin the Committee’s own reviews of Board size, structure and Mannings attended the Committee meetings in October and were composition, and developments in corporate governance best appointed as members of the Committee on 1 January 2021 . The practice, such as the recommendations of the Parker Review. Code requirement that a majority of members are independent Non-Executive Directors has therefore been satisfied throughout the period under review. 115 Hargreaves Lansdown Report and Financial Statements 2021