“The members of the Indivior Board bring a balance of skills, knowledge and experience to ensure we are well-positioned to address this global crisis”
The Board of Indivior is firmly committed to maintaining high standards of corporate governance. The Board of Indivior monitors compliance requirements of the UK Corporate Governance Code (the Code), and at the end of 2016, Indivior was in compliance with the main principles of the Code and complied with all relevant provisions.
Our Guiding Principles and culture
Indivior’s Guiding Principles shape the behavioral standards we expect all employees to uphold, and underpin the unique corporate culture that defines and differentiates us. The Board believes this culture is a key driver of our success as an organization, and will strive to ensure it is maintained. We are pleased with the progress Indivior has made in the last 12 months.
Consolidation and continual improvement
2016 was a year of consolidation for Indivior. We have now been a stand-alone company for over two years, and we remain committed to continual improvement in our governance and compliance processes, systems and structures. During 2016 the Nomination & Governance Committee focused on developing a best-in-class compliance function, which included taking increased oversight and responsibility for corporate compliance matters.
Meanwhile, our Audit Committee continued to have oversight of the Company’s accounting and financial reporting processes, and oversaw the development of financial controls in anticipation of our US listing and compliance with the Sarbanes-Oxley Act; the US listing is temporarily on hold.
Elsewhere, our Science & Policy Committee has been closely monitoring the development of the Group’s pipeline – notably the Phase 3 clinical trial for RBP-6000 buprenorphine monthly depot, the positive top-line results of which were published in August 2016.
Board balance and diversity
The transformation of addiction from a global human crisis to a treated disease worldwide must be thoughtfully navigated and guided by experience. The members of the Indivior Board bring a balance of skills, knowledge and experience to ensure we are well-positioned to address this global crisis and expand access to treatment.