Board composition and renewal remain a main focus and I have sought to refresh and strengthen the Board by bringing in high calibre individuals for non-executive appointments. In accordance with the Board Diversity Policy, we plan to increase the number of female directors on the Board. Other key attributes for new non-executive Directors include substantial direct senior experience in UK and/or Continental European businesses, relevant to the diverse business sectors and geographies in which DCC operates. Jane Lodge’s appointment to the Board on 4 October 2012 met both of the above criteria.
The effectiveness of the DCC Board was validated by the positive results last year from the first external evaluation of Board performance, which was undertaken by Towers Watson. This year, David Byrne, the Deputy Chairman and Senior Independent Director, and I facilitated an internal evaluation, which showed further progress. The results of recent evaluations are showing that the significantly greater diversity of experience and expertise brought to the table as a result of new Board appointments over the past four years is paying dividends, in terms of the quality of Board discussion and its contribution to decision-making.
As outlined in my Chairman’s statement on this page, the Board has a range of skill-sets, domain knowledge and deep commercial experience with the average service of a non-executive Director being 4.3 years. I continue to spend a significant amount of time on ensuring that we will continue to have top class candidates available for future appointments.