Role of the Board
As in all other companies, the Board is responsible for oversight of the Company’s operations and setting strategy
Bupa is managed in line with the corporate governance safeguards and commercial principles that would be expected to be found in a listed company.
Bupa has a majority of independent Non-Executive Directors, including an independent Chairman. Bupa takes corporate governance very seriously and is committed to meeting best practice where this is appropriate. The independent Non-Executive Directors currently outnumber Executive Directors by a ratio of four to one. The Non-Executive Directors are eminent people in their own right.
The Board supports the principles of corporate governance set out in the Combined Code published by the Financial Reporting Council in June 2008. Bupa has complied with the provisions set out in section 1 of the Code throughout the year ended 31 December 2010. The Board has also agreed actions arising from the new 2010 UK Corporate Governance Code which applies for financial years ending on or after 29 June 2010 and intends to report compliance with this new code in the next financial reporting period.
Bupa is supervised by external regulators, including in the UK the Financial Services Authority and the Care Quality Commission. Separate regulatory requirements apply to each market in which Bupa operates.
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Roles of the Chairman and Chief Executive
There is a clear division of responsibilities between the Chairman and Chief Executive
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Role of the Non-Executive Director
Non-Executive Directors have the same general legal responsibilities to the Company as any other director
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Role of the Senior Independent Director
The Board will appoint one of the independent Non-Executive Directors to be the Senior Independent Director, to provide a sounding board for the Chairman and to serve as an intermediary for the other directors where necessary
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Bupa's Articles of Association
The constitution by which Bupa is governed
