Strategic report Governance Financial statements Other information CHAIR’S INTRODUCTION TO CORPORATE GOVERNANCE SUPPORTING LONG-TERM SUCCESS I am pleased to introduce our Corporate Governance Report, Board changes which sets out how the Group’s governance framework supports The Board welcomed three new Directors during the period under and promotes its long-term success, and provides an overview of review. Andrea Blance and Moni Mannings joined in September the activities of the Board and its Committees during the period 2020 as new independent Non-Executive Directors and Adrian under review. Collins joined in November 2020 as a new Nominated Director. We apply and report under the 2018 UK Corporate Governance You can find more information about their appointment and the Code (the Code). Our Compliance Statement confirms our skills and experience they bring in the Nomination Committee compliance with the Code during the period under review. You can Report on page 118. read more about how we have applied its principles throughout our On 25 June 2021, the Board was pleased to announce the Corporate Governance Report. appointment of Penny James as a new Senior Independent Culture Director with effect from 1 September 2021. This appointment Our culture underpins our approach to governance and risk follows the resignation of Shirley Garrood as Senior Independent management. The Board spends time promoting a culture that Director at the end of Decemr 2020. I would like to thank Shirleybe urages good governance, effective decision making and for her hard work and dedication and wish her well for the future. enco appropriate risk management. Our strong culture, which promotes As announced in August 2020, Stephen Robertson and Fiona accountability and clarity on responsibilities, ensures that we can Clutterbuck stepped down from the Board on 8 October 2020. focus on making the right decisions, at the right level, with the rightI would like to reiterate, on behalf of the Board, our gratitude to information to deliver the strategy and ambitions of the Board Stephen and Fiona for their dedication and contribution to the within the risk appetite set by the Board. Group during their tenure with us. The role of the Board is to set the Risk and governance framework On 29 July 2021, we announced that Philip Johnson had informed tone from the top on the Group’s Following an in-depth review of the Group’s risk and governance the Board of his intention to step down from his position as Chief framework in 2019, the Group has continued to implement and Financial Officer. During the next financial year the Board’s governance, culture and values. embed a number of improvements to better define responsibilities, Nomination Committee will undertake a search to identify and improve executive challenge and oversight, and ensure that appoint a successor. Philip will work with Chris Hill, Chief Executive decisions and oversight take place at an appropriate level. Officer, and the Board to ensure an orderly transition. During the period under review, theGroup has further enhanced the leadership and capability of the existing risk management team and approved the next phase for the Group’s Risk Enhancement Plan. You can find more information on this in the Risk Committee report on page 123. 66 Hargreaves Lansdown Report and Financial Statements 2021