Heron Foods Limited follows the Wates Corporate Governance Principles for Large Private Companies (2018). These principles provide a framework for effective leadership, responsible decision-making and long-term business success.
Purpose and Leadership
Our purpose is simple: to provide customers with quality products at the lowest prices possible.
This focus on value, price integrity and high retail standards is central to our business strategy and underpins decision-making across the company.
Board Composition
The Board of Directors for the B&M Group comprises the Chair, Executive Directors, CFO, plus Independent Non-Executive Directors, of which both the Executive Directors of the B&M Group’s Board sit on the Heron Foods Limited Board of Directors.
Director Responsibilities
The Board is collectively responsible for:
- Setting the company’s strategic direction
- Promoting the long-term success of the business
- Maintaining effective governance and internal controls
- Monitoring business performance and risk management
Day-to-day management of the business is delegated to the executive leadership team, who are responsible for implementing the strategy and policies approved by the Board.
Risk Management and Internal Controls
The Board maintains a robust framework of internal controls designed to identify, assess and manage risks across the business.
These controls support effective decision-making and help safeguard the company’s assets, people and reputation.
Key areas of focus include:
- Financial reporting and control
- Risk management
- Internal audit and compliance
- Operational controls
- Colleague policies and procedures
While no system can eliminate all risk, the Board seeks to provide reasonable assurance that risks are appropriately managed.
Remuneration
Executive remuneration is overseen by the Group Remuneration Committee.
The Committee reviews and approves remuneration policies for executive directors and senior leadership to ensure they support the long-term success of the business and align with shareholder and stakeholder interests.
Stakeholder Engagement and ESG
The Board recognises the importance of responsible business practices and considers the interests of key stakeholders when making decisions.
Our Environmental, Social and Governance (ESG) strategy focuses on four key areas:
- Environment
- Colleagues
- Communities
- Supply Chain
The impact of business decisions on these areas is considered alongside financial performance to support sustainable, long-term growth.