Dear Shareholder
My focus during 2014 has been on embedding the new
executive leadership and ensuring good process around
the formulation of strategic objectives and business plans
for the next phase of IMI’s development and growth. I believe
the transition to our new Chief Executive, Mark Selway, has
been successfully completed and that he has had an excellent
first year. We have also developed and started to implement
a robust strategic plan to drive growth and build long-term
shareholder value. While it is still early days a number of our
strategic initiatives are beginning to deliver real benefits.
Looking ahead to 2015, I see the key objectives for the
Board to be:
• continuing to develop our Board strategy process with
a longer term perspective;
• updating our risk management process and governance in
line with the recent revisions to the UK Corporate Governance
Code and associated best practice guidance; and
• ensuring continuity and a smooth transition for my successor
as Chairman and in relation to the key finance roles as
we change Finance Director and Chairman of the Audit
Committee early in 2015.
As ever, I am keen to engage with shareholders and during
the last year have met with a significant number of IMI’s larger
institutional investors. I look forward to meeting individual
shareholders again at the forthcoming Annual General Meeting.
Following the announcement of my appointment to the board
of WPP plc it was announced in December 2014 that I will step
down as Chairman of IMI. I have greatly enjoyed my time with
IMI since joining in June 2011 and I will continue in my current
role until my successor is appointed and there has been a
suitable transition period. Anita Frew, our senior independent
director, is leading the search for your new chairman.
Yours faithfully
Roberto Quarta
Chairman
26 February 2015
Corporate Governance introduction
Chairman’s Governance letter
46
IMI plc
