Section 172 of the Companies Act 2006 sets out a number of duties that directors owe to a company. These include a general duty requiring directors to act in a way in which they consider, in good faith, will promote the success of the company for the benefit of shareholders as a whole.
New statutory reporting requirements mean that certain companies within Smiths Group need to include a statement in the strategic report within their report and accounts to help shareholders better understand how directors have discharged their duty to promote the success of the company, while having regard to the matters set out in section 172(1). The section 172 statements for qualifying subsidiary companies within the Smiths Group are available below.
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