UK Corporate Governance Code and s172 Reporting
The Directors of the Company, as those of all UK companies, must act in accordance with a set of guiding principles. These duties are detailed in section 172 of the UK Companies Act 2006 which is summarized as follows:
A Director of a company must act in a way they consider in good faith, would be most likely to promote the success of the company for the benefit of its shareholders as a whole and, in doing so have regard (amongst other matters) to:
- the likely consequence of any decisions in the long term;
- the interests of the company’s employees;
- the need to foster the company’s business relationships with suppliers, customers, and others;
- the impact of the company’s operations on the community and the environment;
- the desirability of the company maintaining a reputation for high standards of business conduct; and
- the need to act fairly as between shareholders of the Company.
As part of their induction, the Directors are briefed on their duties and they can access professional advice on these—either through the Company or, if they judge it necessary, from an independent provider.
The following summarises how the Directors fulfill their duties:
The Group provides consultancy services to assist clients in managing operational and financial challenges. As we grow, our business and our risk environment also become more complex. It is therefore vital that we effectively identify, evaluate, manage, and mitigate the risks we face, and that we continue to evolve our approach to risk management.
For details on the principal risks and uncertainties please see pages 5 to 6.
Our People and Business Relationships
The Company is committed to being a responsible business. Our conduct matters. It matters with each other in the workplace, and with our clients in the marketplace. As we continue to grow and build on our legacy, we have created a Code of Conduct to assist us all to better understand how our Core Values and the Firm’s policies and principles must guide our decisions. Our Code is global—it applies to each of us at every location, in every role, and in every situation. The principles that are the foundation of our Code are carefully considered. They require us to make our choices based on AlixPartners’ Core Values and remind us that it is our responsibility to manage risk together, and to seek guidance from an appropriate resource if we encounter a situation that concerns us.
Further details on our commitments in the workplace and our commitments in the marketplace and our Code of Conduct.
The Company has a well-developed structure through which it engages regularly with UK employees, including regular All-Firm calls, UK town hall meetings, and employee experience surveys.
Community and Environment
Corporate social responsibility is deeply embedded in our culture, values, and principles. We leverage our people and our financial resources to tackle social issues in the communities where we live and work, through our firm-wide philanthropy program, AlixGives, which includes our Foundation in the United Kingdom.
More details on our Corporate social responsibility can be found here.