Strategic report Governance Financial statements Other information NOMINATION COMMITTEE REPORT CONTINUED Appointment of new independent Non-Executive Directors Search for a new Senior Independent Director Committee changes During the period under review, the Committee carried out a Following a rigorous process involving initial interviews with a During the period, the Committee recommended to the Board the detailed search for three new Non-Executive Directors to replace range of potential candidates, Penny James was identified as the appointment of Andrea Blance and Moni Mannings as members of the Senior Independent Director, build resilience into the preferred candidate. Further interviews were conducted by all the Risk Committee with Andrea Blance becoming Chair of that membership of the Board’s Committees and aid succession members of the Board and selected senior management. Having committee in December 2020. Andrea brings a wealth of knowledge planning for Committee Chair roles, accelerate progress toward received detailed feedback from the interview process, the and experience of risk management within financial services having meeting the recommendations of the Parker Review whilst Committee was pleased to recommend Penny’s appointment to served as Group Chief Risk Officer for Legal & General Group plc. continuing to meet the recommendations of the Hampton- the Board. Penny was appointed as Senior Independent Director Moni’s background means she brings legal expertise and diversity Alexander Review, and bring further recent executive experience and member of the Risk Committee and the Nomination of thought within the Risk Committee. They both have other FTSE to the Board to promote diversity of thought. Committee with effect from 1 September 2021. 100 experience and their appointment adds to the Committee’s The Committee engaged Russell Reynolds Associates, an Appointment of Adrian Collins as the Nominated Director capability to oversee and challenge executive management on the independent external search agency, to assist with the searches: Adrian Collins joined the Board as the Nominated Director on risks associated with the Group’s strategic objectives. firstly to find two new independent Non-Executive Directors 2 November 2020 following the Company entering into a new Andrea Blance and John Troiano were appointed to the Audit and secondly to find a new Senior Independent Director. shareholder agreement (the Agreement) with Peter Hargreaves. Committee, and it is considered that Andrea’s previous experience Search for two new independent Non-Executive Directors The Agreement entitles Peter, a co-founder of the Company as Audit Committee Chair of ReAssure Group plc and Provident Following a rigorous process involving initial interviews with a rangeand its largest shareholder, tonominate one non-independent, Financial plc combined with John’s extensive industry experience of potential candidates, Andrea Blance and Moni Mannings were Non-Executive Director for appointment to the Board (the will be particularly beneficial in the functioning of this committee. identified as the preferred candidates. Further interviews were “Nominated Director”), subject to the applicable regulatory and Moni Mannings was appointed and became Chair of the conducted by all members of the Board and selected senior governance framework that is observed by the Company. This Remuneration Committee. Her experience of chairing other management. Having received detailed feedback from the interview nomination right shall remain in place for so long as Peter and his Remuneration Committees of listed businesses (including Investec process, the Committee was pleased to recommend Andrea’s and Associates (as such term is defined in the Listing Rules) control or Bank PLC) are considered to bring considerable benefit to the Moni’s appointment to the Board. Andrea was appointed as a are entitled to control the exercise of at least 10 per cent of the Committee. Non-Executive Director and member of the Risk and Audit Company’s voting rights. Prior to nominating Adrian Collins, Peter Committee with effect from 1September 2020. Moni was appointed Hargreaves consulted with, and obtained the approval of, the Appointments to the Group’s subsidiary boards as a Non-Executive Director and member of the Risk and Committee regarding the identity, qualifications, experience, The Committee also takes an active role in considering the Remuneration Committees with effect from 1 September 2020. character and overall suitability of the individual proposed to be development of talent and balance of skills within the Group’s appointed. The granting of such approval was at the sole discretion subsidiary boards. The Committee approves the appointments of the Nomination Committee. to the Group’s subsidiary boards. Care is taken to ensure that appointments expand the diversity and experience of the Group’s subsidiary boards. 118 Hargreaves Lansdown Report and Financial Statements 2021