Section 172 Statement
As a Board, we have a duty to promote the success of Rotork for the benefit of our members. In doing so, we must have regard for the interests of our people, the success of our relationships with suppliers and customers, the impact of our operations on the community and the environment, and the desirability of maintaining a reputation for high standards of business conduct.
These stakeholder relationships are fundamental to our business and strategic direction. We have in excess of 3,700 shareholders and nearly 3,400 employees. We serve customers in more than 173 countries and enjoy a global supply base. All these stakeholders are material to the long term success of the business and strategic direction. Relationships with our stakeholders support the generation and preservation of value in the Group, as well as our culture and Values of ‘Stronger Together; Always Innovating and Trusted Partner’.
Stakeholder considerations are woven throughout all Board discussions and decisions. The table on pages 94 to 95 of the Annual Report sets out our key stakeholder groups and how they were engaged with, both directly and indirectly, by the Board throughout the year on those matters which the directors understand are important to each group. Examples of decisions taken by the Board and how stakeholder views and inputs, as well as other Section 172 considerations have been taken into account in its decision making, are set out on pages 93 to 94 of the Annual Report. These are incorporated by reference into this Section 172(1) Statement.