Diageos board and executive committee are committed to achieving the highest standards of corporate governance, corporate responsibility and risk management in directing and controlling the business. The principal governance rules applying to UK companies listed on the London Stock Exchange are contained in the Combined Code on Corporate Governance adopted by the Financial Reporting Council in July 2003 (the Code).The company has complied with the provisions set out in section 1 of the Code and has done so throughout the year regarding the Code provisions whose requirements are of a continuing nature, and also with the revised Code published in June 2006 (applicable for Diageo's financial year beginning on 1 July 2007), except that Dr Humer was unable to attend the 2006 Annual General Meeting (a requirement under Code provision D.2.3), due to an important personal commitment that arose just prior to the meeting. A full description of the company's corporate governance practices is given in the corporate governance report, which can be accessed below.
Diageo has American Depositary Shares listed on the New York Stock Exchange (NYSE) and is subject to the reporting and other requirements of the SEC applicable to foreign private issuers.The company is subject to those provisions of the Sarbanes-Oxley Act and related SEC rules applicable to foreign private issuers.
Diageo is committed to conducting its business responsibly and in accordance with all laws and regulations to which its business activities are subject. The board has a well established compliance programme to support achievement of this commitment.
Click on the links below to view the corporate governance documents:
Click here to view Diageo's Corporate Governance Report for the year ended 30 June 2007 (126 KB) pdf
Click here to view Diageo's codes and policies (83KB) pdf
Board committees' terms of reference
Click here to view Audit committee
Click here to view Nomination committee
Click here to view Remuneration committee
Click here to view Summary of non-executive directors' terms of appointment
Click here to view Independent remuneration consultants