Board Diversity Policy

LSM is committed to taking into account appropriate diversity of qualifications, knowledge and relevant experience when assessing the composition and balance of the board. LSM recognises that a truly diverse Board will include and make good use of differences in perspectives, skills, industry experience, background, race, gender and other distinctions between Directors. These differences will be considered in determining the optimum composition of the Board and when possible should be balanced appropriately. All Board appointments are made on merit, in the context of the skills, experience, independence and knowledge which the Board as a whole requires to be effective.

The Boards have each established a Nomination Committee in order to:

  • ensure that the Board remains balanced both in terms of skill and experience and between executive and non-executive directors; and
  • lead the process for appointments to the Board and make recommendations to the Board ensuring there is a formal, rigorous and transparent procedure.
  • review the structure, size, diversity (in skill and person) and composition (including the skills, knowledge and experience) of the board and make recommendations to the Board with regard to any changes

The Nomination Committee is responsible for evaluating the balance of skills, knowledge, experience and diversity on the board and, in the light of this evaluation, prepares a description of the role and capabilities required for a particular appointment. In identifying suitable candidates the committee will consider candidates on merit and against objective criteria and with due regard for the benefits of diversity on the board.