Time for action!, page-16

The information below comes straight out of the annual report 2022

A skills and experience matrix is used to review the combined capabilities of the Board. A mix of general and specialty skills and experience areas critical to the success of the company are selected for directors to assess themselves against. Each area is loosely linked to the company’s core objectives and strategy.The directors rated the depth of their skill and experience in each of the following areas:


1. Leadership in Healthcare and/or Scientific Research;

2. Pharmaceutical/Product Development and Supply Chain;

3. International experience;

4. Regulation/Public Policy;

5. *Licensing and commercialisation of innovation;

6. Science and Technology

7.*Sales, Marketing and Business Development;

8. *Governance;

9. *Strategy & Risk Management;

10. Accounting/Corporate Finance;

11. Health, Safety & Environment;

12. Remuneration;

13. M&A/Capital Markets; and

14. Audit and Risk.

*THE HIGHLIGHTED BOLD POINTS ARE SADLY LACKING IN MY OPINION




The results of the matrix show that there are four or more directors with intermediate to deep skills and experience in each of the fourteen areas above. The Board reviews the matrix at least annually  to ensure it covers the skills needed to serve the existing and merging areas of Starpharma’s business. The breadth and depth of the desired skills and experience represented by the directors is notable considering the size of the Board, and no existing or projected competency gaps have been identified. This process provides an important input to succession planning for the Board. Having regard to the current and future activities of the group, the Board considers that collectively it has the appropriate skills and experience in each area listed above.