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We welcomed the appointment of Gavin Hill as an independent non-executive director at the 2025 AGM. Hill was known to us through his role as CFO at another company we invest in on behalf of clients, allowing us to draw on insights from colleagues who had previously engaged with him and giving us additional confidence in his suitability for the role at Eurofins. Alongside this appointment, we remain focused on succession planning for the founder-CEO and on ensuring robust arrangements are in place to support long-term leadership continuity.

We will continue to engage on these matters, including seeking to understand how the introduction of a new independent NED has influenced board dynamics.

During the year, the company also strengthened its governance framework through the implementation of a Related Party Transactions Policy, requiring the Sustainability & Corporate Governance Committee to be notified of, and then assess, any forthcoming transactions. Eurofins further committed to offering shareholders a vote on related party property acquisitions, reflecting improved transparency and accountability.