Election of directors

As a matter of policy the Company requires all directors to submit themselves for re-election by an ordinary resolution of share owners at least every three years or every year in the case of those directors who have held office for more than nine years. Directors may be appointed by share owners by ordinary resolution or by the Board on the recommendation of the Nomination Committee and must then stand for re-election at the next Annual General Meeting where they may be re-elected by ordinary resolution of the share owners.

The Board recommends that share owners vote in favour of the Resolutions to re-elect the relevant directors, namely Colin Day, Lubna Olayan, Jeffrey Rosen, Esther Dyson, Stanley (Bud) Morten and John Quelch and sets out their reasons for this recommendation in the Appendix to the Notice of the Annual General Meeting.