Corporate governance is part of our way of working and underpins how we conduct our business every day, our culture and our behaviour.
The Board’s role is to lead the company and oversee the governance of the group. It plays a key role in ensuring that the tone for the group’s culture and values is set from the top. The role of management is to deliver the strategy within the framework and standards set by the Board.
At the heart of good governance is our culture; at Legal & General, it’s not just what we do that’s important, it’s also how we do it. Our corporate governance framework means we have a robust decision-making process and a clear framework within which decisions can be made. This is achieved via our delegated authority framework, which ensures that decisions are taken by the right people and at the right level and that there is clear governance and accountability up to the Board.
Corporate governance is the system of rules, practices and processes by which a company is directed and controlled. We annually publish Governance reports which provide insight into how the Board have approached good governance in business during the year and the work of the Board committees. Our reports also share our approach to defining corporate governance, board governance, terms of reference for committees, detail on transparency and accountability and overall corporate social governance. For the year ended 31 December 2022, we were required to measure ourselves against the UK Corporate Governance Code 2018.