Business stewardship Governance Report and financial statements 348 Governance Report 48 Board of Directors 56 Executive Chairman’s governance statement 58 The role of the Board 62 Report of the Audit and Risk Committee 65 Report of the Nomination and Remuneration Committee 71 Remuneration Report 92 Directors’ Report 99 Independent auditors’ report 108 Financial statements 167 Shareowner information 4 S Capital Annual Report and Accounts 2021 47