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Relation with Stakeholders

The Directors have regard to the interests of the Company’s employees and other stakeholders, including its impact on the community, the environment and its reputation, when making their decisions. The Directors consider what is likely to promote the success of the Company for its members in the long term in all their decision making. This section serves as our Section 172 statement and statement of engagement with employees and other stakeholders.

Although the Company has multiple stakeholders the Board considered its key stakeholders to be its customers, partners, suppliers, employees, and local communities.

  • Customers: By working collaboratively with our customers, we develop innovations to meet consumer needs. The Board engages with customers through the Executive Management Team and receives regular information about customers in the board reports and other business reports. We have face to face meetings, attend industry events and speak at conferences.
  • Partners: We recognise that a collaborative approach to innovation can often accelerate time to market, reduce costs and create differentiation. The Board engages with our partners through the Executive Management Team and receives regular information about them in the board reports and other business reports. We encourage our partners to approach us with innovations.
  • Suppliers: Supply chain integrity is a critical part of our business as we rely on our suppliers to help meet our customers’ needs. We engage with our suppliers via our procurement teams as well as through other functions such as legal, compliance and Health and Safety. The Board receives information through reports.
  • Employees: We rely on the knowhow, creativity and entrepreneurial spirit of all our people. We need the best teams to be engaged and to collaborate if we are to achieve our purpose. The Board delegates to the Executive Management Team, through the Chief People Officer, the responsibility for employee engagement. We have effective communication and channels of engagement with our employees through informal networks, newsletters, works councils and surveys. We use Yammer as a social network to share insight. During 2019 the Company’s ultimate parent company, Inmarsat plc, was acquired by a consortium of (i) funds advised by Apax; (ii) funds advised by Warburg Pincus or its affiliates; (iii) Canada Pension Plan Investment Board; and (iv) Ontario Teachers' Pension Plan Board. Following this acquisition a new employee share participation plan was implemented as were other incentive plans for senior leaders.
  • Local Communities:  The Board engages with local communities through the Executive Management Team, who delegates oversight to the Chief People Officer.  The CPO oversees a comprehensive global outreach programme by promoting STEM careers to women and girls and tackling social mobility through partnerships with schools and targeted organisations. Over 900 primary and secondary school children attended a ‘STEM insights’ day with Inmarsat in 2019. Inmarsat was also selected as the Technology and Telecommunications Sector Lead for the Social Mobility Pledge, working with the Rt. Hon. Justine Greening to help make social mobility relevant for business in the UK.

 

Principal Decisions

Section 172 of the Companies Act 2006 requires the Directors to take into consideration the interests of its stakeholders when making principal decisions.

Employees:

The Board, through the Executive Management Team, considered the impact of the acquisition of Inmarsat plc on the Company’s employees and on the impacts on existing contractual and employment rights including pensions and incentive schemes. Additionally, they considered any significant organisational impacts. The Board, through the Executive Management Team, regularly informed senior leaders and employees through regular updates, dedicated intranet hub and Town Hall meetings and with the formal representative employee bodies. The formal employee bodies were also invited and supported to submit a response to the 2.7 formal offer in the shareholder circular, which the UK Staff Forum decided to do.