Section 172 of the Companies Act 2006 outlines some general duties that directors owe to a company. One key duty requires directors to act in good faith in a manner they believe will promote the company’s success for the benefit of shareholders as a whole. Due to statutory reporting requirements, certain companies within the Clarivate Group must include a statement in the Strategic Report of their Annual Report. This statement helps shareholders understand how directors have considered the matters outlined in section 172(1). These requirements apply to both public and private UK companies, including large subsidiary companies as defined by the Companies Act 2006.
The section 172(1) statements for qualifying companies within the Clarivate Group are available below: