Governance
Board of Directors
Dr Peter Fellner (65)
Chairman
Dr Peter Fellner was appointed Chairman in May 2009, having served as a director since November 2005. He is also Chairman of Vernalis plc and Astex Therapeutics Ltd. In addition he serves as a director of QinetiQ Group plc, the global biopharmaceutical company UCB SA and the European biotechnology company, Evotec AG. Dr Fellner previously served as Chairman of Celltech Group plc from 2003 to July 2004, having been CEO from 1990 onwards. Before joining Celltech he was CEO of Roche UK from 1986 to 1990. More recently he served as Chairman of Acambis plc from 2006 until its acquisition by Sanofi Aventis in 2008, and of Premier Research Group plc from 2007 to 2008, when it was acquired by a private-equity backed group. Peter is Chairman of the Nomination Committee.
Directors’ Report
The directors of Consort Medical plc (the “Company”) present their report (the “Report”) and the audited financial statements of the Group for the period ended 30 April 2009. This Report has been approved by the Board and prepared by the Company Secretary, Robert Allnutt, who has signed it on the Board’s behalf.
The divisional Operating Reviews, and other content of this Annual Report have been prepared solely for the shareholders of the Company as a body. To the extent permitted by law the Company, its directors, officers and employees disclaim liability to any other persons in respect of the information contained in this Annual Report. Sections may include statements containing risks and uncertainties facing the Group, and other forward-looking statements, which by their nature involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. The Company undertakes no obligation to update any forward-looking statements.
Remuneration Report
The Remuneration Report covers the remuneration of both executive and non-executive directors, and certain senior executives, for the period ended 30 April 2009. The Report will be subject to approval by shareholders at the Annual General Meeting on 16 September 2009. The Report, which was prepared by the Company Secretary, has been approved by the Board and signed on its behalf by George Kennedy, the Chairman of the Remuneration Committee.
Corporate Governance
Consort Medical plc believes that an effective system of corporate governance underpins the achievement of its corporate aim to deliver consistent sales and earnings growth. The Board adheres to governance policies and procedures in accordance with the Combined Code on Corporate Governance 2006 (the ‘Combined Code’) which recognises the Board’s accountability to the Company’s shareholders while providing a flexible framework in which the Board can manage the Group.
The Board is committed to establishing and maintaining high standards of corporate governance. Its policy is to appoint directors with appropriate skills who have sufficient time to carry out their duties adequately. The Board provides opportunities through site visits and regular access to senior management to permit directors to familiarise themselves with the Company and the markets in which it operates.