Strategic report Governance Financial statements Other information CORPORATE GOVERNANCE REPORT CONTINUED Board composition Board diversity Induction and professional development The Chair is responsible, with the support of the Group Company 1 Secretary, for arranging a comprehensive induction programme Chair for all new Directors. Inductions are tailored to the individual following a skills gap analysis, and have regard to their background, knowledge and previous experience both professionally and as Female a Director. Consideration of the length of service of Directors is a key element 2 of the wider consideration of Board composition and succession Executive planning, and for Non-Executive Directors it is an important aspect Directors that is considered in determining continued independence. The Group maintains clear records of the terms of service of 6 Male the Chair and Non-Executive Directors to ensure continued Non-Executive compliance with the tenure requirements in the Code. The Chair Directors has held the position since her appointment to the Board in On joining the Board, Non-Executive Directors receive a formal February 2018 and, as at the date of this report, none of the letter of appointment setting out the time commitment expected Non-Executive Directors has served on the Board for more than of them. Once they have met all approval and induction nine years from the date of their first appointment. Length of tenure requirements, Non-Executive Directors are currently expected Director election and re-election to commit a minimum of 30 days per annum to their roles. This In accordance with the requirements of the Code and the 4 expectation is calculated based on attendance at and preparing Company’s Articles of Association, all Directors will stand for 3-6 years for Board meetings, meeting with senior management and the election or re-election, as relevant, at this year’s AGM. Information Company’s shareholders, and attending strategy days, Board on how the Board evaluates the effectiveness and contribution of dinners and training. Additional time commitments may apply each Director can be found in the Nomination Committee report where a Non-Executive Director takes on an additional role such on pages 114 to 120. The Notice of AGM will include specific details as chairing a Committee. of why the Board considers that the contribution of the Directors seeking election or re-election is, and continues to be, important to the Group’s long-term sustainable success. 5 0-3 years 78 Hargreaves Lansdown Report and Financial Statements 2021