Report of the Directors
Business Review

Chairman’s Statement

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As recently announced, after a long and distinguished career with Johnson Matthey, Bill Sandford will retire as an executive director of the company on 9th October 2013. Bill has been Executive Director, Precious Metal Products since 2009 having joined the company in 1977. Bill has made a wide ranging and consistently strong contribution to Johnson Matthey and his wise counsel and depth of experience of our business will be greatly missed at the board. On behalf of all of us at Johnson Matthey, I would like to thank Bill for his great contribution to the company over many years and wish him all the very best for his retirement.

Concurrent with Bill’s retirement, John Walker will be appointed as an executive director of the company, with effect from 9th October 2013. John joined Johnson Matthey in 1984 and has been Division Director of our Emission Control Technologies (ECT) business since 2009. He will have board level responsibility for ECT and brings a wealth of experience and knowledge of that business. I am delighted to welcome John to the board and I look forward to his contribution to its work.

During the year we concluded the performance evaluations of your board and its committees that I outlined in my statement to you last year. In this year’s Corporate Governance Report we describe the methodology that was used and the outcomes of these evaluations. In this section we also report on a further internal review that was conducted this year.

Effective engagement with shareholders is an important part of my role as Chairman. In this respect, I was pleased to meet a number of shareholders at last year’s annual general meeting (AGM), my first as Chairman of your company, and look forward to once again meeting many of you at this year’s AGM. I am also, of course, available throughout the year to meet our larger shareholders on an individual basis. In addition, I attend our investor presentations during the year to listen to shareholders’ questions and hear our management team’s responses.

Investing in our people is, without a doubt, the most important investment that we make in the future of our business. The training, development and especially the safety, health and wellbeing of all our employees around the world is vital to the success of Johnson Matthey. I am pleased to report that we have continued to make good progress, particularly in reducing cases of occupational illness. Having beaten our group target in this area we have now set ourselves the challenge of eliminating occupational illness cases from our workplaces.

Over the last year I have continued to meet many of our employees around the world and am always impressed by the depth of their experience; their enthusiasm; professionalism and dedication. On behalf of our stakeholders, I would like to thank all of our people for their hard work and contribution to the success of the company.

To conclude: whilst Johnson Matthey faced significant challenges in 2012/13, we continued to make strong progress towards achieving our long term goals and in delivering high technology products and services to our customers. Whilst economic uncertainties remain and some of our markets will take time fully to recover, I believe that the key enablers of our strategy, together with our ongoing investment in R&D and manufacturing infrastructure, will support the continued growth of Johnson Matthey in the years ahead.

Tim Stevenson

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