NATIONAL GRID PLC
For the period ended Mar 31, 2026. Filed Jun 3, 2026.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2026 · Filed Jun 3, 2026
Use the contents to explore the available documents and sections.
Contents
External evaluation
In line with the three‑year evaluation cycle, the 2026 evaluation was externally facilitated. Christopher Saul
was appointed as the independent evaluator, and the Chair and Group Company Secretary agreed the
scope and approach for the evaluation, ensuring alignment with the Company’s governance framework
and the 2024 Code. He attended the March Board and Committee meetings as an observer, and met
with Board members and members of the Group Executive Committee for their input. His report, with
recommendations, was presented to the Board at its May 2026 meeting and an update on the actions
will be provided in next year’sannual report. Christopher Saul has no other connection to the Company or
individual Directors.
| Progress against our 2025 evaluation actions | ||
|---|---|---|
| Actions | Progress | |
| Talent and Succession | –Focus on senior leadership succession and the Board’s exposure to senior management. | –With the creation of the People & Remuneration Committee, all non-Board people‑related matters have been consolidated under one Committee. This provides consistency and wider context around people discussions. This also provides clearer accountability around Board talent engagement, which is now led by the Chair of the Committee with the support of the Chief People Officer and Group Company Secretary.–As part of an induction for Directors into the new Committee, a focused deep‑dive session on people and culture was undertaken to support the expanded remit of the revised Committee led by senior management from the respective teams. –Across the year, a series of roundtable engagement sessions were held with participants from the talent leadership programme, increasing the Board’s exposure to senior management and the wider talent pipeline.–The appointment of Zoë Yujnovich as Chief Executive and Emma Hardaker-Jones as Chief People Officer in the year has demonstrated senior leadership succession in action and brought a refreshed approach to how talent exposure to the Board is managed. |
| Governance framework | –Review the Committee structure particularly in respect of risk, sustainability, reputation, operational and financing matters.–Assess if the continued ownership of all the Company’s Group Principal Risks by the Audit & Risk Committee remains the most optimal and time efficient oversight model. | –Building on the prior year action around committee structure and external benchmarking, a revised committee framework was implemented to better reflect the fast moving external environment that the Company operates in, while continuing to give appropriate focus to key elements of risk, safety and operational performance. This also included the re-allocation of Group Principal Risks. –Sustainability and reputation oversight: A Responsible Business Committee was established to provide focused oversight of sustainability and the environment.–Safety and capital delivery: A Safety & Operations Committee was established with responsibility for safety oversight and the capital delivery programme.–Risk management: Each committee now assumes responsibility for Group Principal Risks within its remit, enabling more focused and specialised risk reviews. The Audit & Risk Committee retains overall ownership of the risk framework, ensuring cohesive oversight across the organisation. |
| National Grid plc Annual Report and Accounts 2025/26 | 97 | Strategic Report | Corporate Governance | Financial Statements | Additional Information |
|---|---|---|---|---|---|
| Directors’ induction, development and training | |||||
The Board is committed to ensuring that
Directors receive appropriate induction and
ongoing development and training to support
effective decision‑making and oversight.
Ongoing development is tailored to individual
needs and is aligned with the Group’s
strategy, operations and external
environment.
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