Mr. Conal Henry:

The Chairman knows that I have been a CEO with a chairman and I have been a chairman with a CEO. I have also acted as a non-executive chairman in a number of different industries and sectors. I think I have a clear sense of this. For me, the most successful relationship between a chair and a management team is one where there is a written plan that is agreed upon by all involved. The process is then for the chair and the CEO to consider how they are doing with respect to the plan. If things change, they must consider what that means for the plan and they must consider whether anything needs to be changed. It is a matter of touches to the tiller. As a chairman, one does not go in and do stuff. One lets the management do the stuff and just checks all the time that stuff is getting done that is in line with the plan and that things are as they should be.

There might be some music fans among the committee members. I have another requirement that I talk about as my Radiohead requirement, which is no alarms and no surprises. This year marks the 25th anniversary of OK Computer. Some people might get that reference.