Corporate governance

The Articles of Association can be found here

Corporate Governance Code compliance

Further information regarding NEXT's position on Corporate Governance can be found in the Corporate Governance section of the latest full year annual report and accounts.

A summary of the work of the principal Board Committees is provided below.

Board committees

Audit Committee

This Committee is chaired by Jonathan Bewes and consists of 5 other Independent Non-executive Directors with at least one Committee member holding recent and relevant financial experience.

The Committee holds regular, structured meetings and consults with external auditors and senior management including internal audit, where appropriate. The Committee frequently requests that executive directors and senior managers attend meetings in order to reinforce a strong culture of risk management and to keep the Committee up to date with events in the business.

The Committee considers financial reporting and reviews the Group's accounting policies and annual statements. In particular, any major accounting issues of a judgemental nature are discussed by the Committee. The Committee also reviews internal and external audit activity and the effectiveness of the risk management process; significant risk issues are referred to the Board for consideration.

Download the Audit Committee Terms of Reference.

Remuneration Committee

The Committee consists of the Chairman and 6 Independent Non-executive Directors. The Committee is chaired by Tom Hall.

Download the Remuneration Committee Terms of Reference.

Nomination Committee

The Committee consists of the Chairman and 6 independent Non-executive Directors, including the Senior Independent Non-executive Director. The Committee meets whenever necessary to consider succession planning for directors and other senior executives to ensure that requisite skills and expertise are available to the Board to address future challenges and opportunities.

External consultants may be used to assist in identifying suitable candidates, based on a written specification for each appointment. The Chairman is responsible for providing a shortlist of candidates for consideration by the Board. The final candidate is then subject to formal nomination by the Committee and approval by the Board.

Download the Nomination Committee Terms of Reference.

Section 172 Statements

Our Section 172 statements describe how the board of directors has engaged with and had regard to the interests of key stakeholders when exercising its duty to promote the success of the company under section 172(1) of the Companies Act 2006.

Section 172 statements of those Group subsidiaries in scope of The Companies (Miscellaneous Reporting) Regulations 2018 can be found below.

NEXT plc’s Section 172 statement can be found on pages 112 to 115 of the Annual Report 2024.

Title	PDF
Lipsy Limited
NEXT Distribution Limited
NEXT Group plc
NEXT Holdings Limited
NEXT Retail Limited
NEXT Manufacturing Limited
NEXT Beauty Limited