Board Diversity Policy

Board Diversity Policy (the Policy)

 

QinetiQ Group plc (the Company) understands and values the benefits that diversity can bring to a Board and its Committees. A diverse Board includes and makes good use of differences in skills, experience, background, ethnicity, gender and other characteristics. These characteristics collectively represented on the Board ought to reflect the diverse nature of the environment in which the Company and its stakeholders operate, and improve its effectiveness through diversity of approach and thought.

The broad principles of diversity contained in this Policy apply to all employees of QinetiQ Group plc. The QinetiQ Code of Conduct contains provisions regarding diversity and inclusion in respect of QinetiQ employees generally. This Policy has been prepared to extend these provisions to the QinetiQ Board, and also to address the specific requirements of the UK Corporate Governance Code, and the voluntary targets set out in the reports of Lord Davies, Sir Philip Hampton / Lady Helen Alexander, and of Sir John Parker.

The Board, supported by its Nominations Committee, annually reviews the composition of the Board and considers the balance of competencies to ensure alignment with the Company’s mission and strategic priorities; the environment in which it operates; the characteristics, perspectives, independence and ethnic diversity of Board members; how the Board works together; and other factors relevant to its effectiveness.

Objectives

The Board will, following recommendations from its Nominations Committee, agree measurable objectives for achieving gender, ethnic and cultural diversity on the Board. At the date of the adoption of this Policy, the Board’s intentions are, to meet the voluntary targets as set out in the Hampton – Alexander Review in respect of gender balance in the Board room, and the targets of the Parker Review in respect of ethnic diversity on UK Boards.

In addition, the Board places high emphasis on ensuring the development of diversity in senior management roles within the Company.

Whether searches for an appointment to the Board, its Committees, or the Company’s senior executives are conducted by the Company or by external search firms, they will identify and present an appropriately diverse range of candidates for the relevant vacancy. 

Monitoring and Reporting

The Nominations Committee will report annually, in the corporate governance section of the Company’s Annual Report, on the process in relation to Board appointments. The report will include a summary of this Policy, the measurable objectives set for implementing the Policy, progress made towards achieving those objectives, the Nomination Committee’s approach to succession planning, its actions to develop a diverse pipeline of candidates, how diversity helps the Company meet its strategic objectives, and the gender balance of senior managers and their direct reports.

The Nominations Committee will review the Policy, including its effectiveness, annually and recommend any revisions to the Board for approval. A summary of this policy will be maintained on the Company’s website.

Adopted by the Board of the Company on 27th March 2018.