Corporate Governance Framework
The Board is committed to the principles of good corporate governance which encompass leadership, effectiveness, accountability, remuneration and shareholder relations. Our shares are quoted on the AIM market and are subject to the AIM Admission Rules of the London Stock Exchange.
Advanced Medical Solutions Group choose to comply with the 2018 UK Corporate Governance Code (Code). The Code sets a higher standard than the alternative Quoted Companies Alliance (QCA) Code and this aligns with our corporate governance principles. We comply as far as is practicable and appropriate for a public Company of the Group’s size. All statements made are made against the Code. AMS is subject to the UK City Code on takeovers and mergers.
We provide strong governance framework to support our resiliance, innovation and growth. Whilst exercising our governance responsibilities, the Group aims to create value and to honour our responsibilities to our key stakeholders, further details of which are outlined in our Engagement with Stakeholders section here.
Our corporate governance framework is supported by our core company values which are embedded in our ‘Care, Fair, Dare’ approach outlined below. This approach summarises our culture, underpins our values and helps us to deliver results, building a sustainable future for our business, which is strongly supported by our work on Environmental, Social and Governance. We have defined the principles and expectations of how we will operate together to deliver success as the Company continues to grow.
AMS Cultural Values
We are committed to the development of products and people that make a real difference to the societies we live in, to the patients our products help heal and to the customers and stakeholders we serve every day.
We continuously strive to add value in every task we perform, every role we fufil and in every project we undertake.
Respects colleagues, encourages and values all contributions
Focuses on the bigger picture
Open minded and takes appropriate action
Takes accountability and responsibility
Transparent and open in our communication and actions
Acts as a team player to deliver outcomes
Demonstrates determination and persistance
Uses critical thinking and creativity to find solutions
Finds value added improvements
Board and Committees
The Board of Directors sets the standards for the Group and through the internal Business Unit structure ensures that these standards and the core values are communicated to management and employees, and are implemented throughout the Group. Led by a strong and experienced Non-Executive Chairman, the Board comprises the Chief Executive, Chief Financial Officer and Non-Executive Directors. The Non-Executive Directors, all of whom are considered by the Board to be independent, bring a valuable range of expertise and experience to assist the Group to achieve its strategic aims. The Chairman fosters a climate of debate and challenge in the boardroom. This is built on his challenging but supportive relationship with the Chief Executive which sets the tone for Board interaction and discussions.
The Board has been through a period of refreshment over recent years in line with corporate governance best practice and currently comprises a number of different nationalities with a wide range of skills and experiences from a variety of business backgrounds. The Board will take into consideration the FTSE Women’s Leaders review when making future appointments. All Directors are required to stand for re-election at each Annual General Meeting.
Futher details in the Corporate Governance section of the 2022 Annual Report.