Investor Relations | Corporate Governance

The QCA Code

Dear Shareholder,

On behalf of the board of directors of Mulberry (the “Board”), I am pleased to make this statement which sets out the Board’s approach to corporate governance. The Board recognises the importance of high standards of corporate governance and considers that the Company’s success is enhanced by a strong corporate governance framework. As Chairman of the Board, one of my responsibilities is to ensure that this framework is maintained. In accordance with the AIM Rules for Companies, the Board formally adopted the Quoted Companies Alliance Corporate Governance Code 2018 (the “Code”) in 2018. The Code is based on 10 principles, aimed at delivering growth, maintaining a dynamic management framework and building trust. The table below provides an explanation of how Mulberry currently applies the principles of the Code. Further information on the Board’s corporate governance procedures can be found on the investor relations website and in the Annual Report.

Chris Roberts, Chairman
8 July 2025

Melissa Ong

Melissa Ong, 51, is Chairman of the Nominations and Remuneration Committee (appointed on 30 September 2022). She was appointed to the Board on 7 September 2010. She is currently Director of Activities of Como Hotels and Resorts, a company ultimately owned by Mr Ong Beng Seng and Mrs Christina Ong, overseeing the experiential element of hospitality in each destination. She is a director/manager of Mojo Pte Ltd, an investment holding company managing investments in technology, food and beverage, hospitality, real estate and public securities and funds. She manages the endowment portfolio of COMO Foundation where she serves as a director. She is a director of Knowhere Pte Ltd. She holds Board positions with the following not-for-profit organisations: Center for Civilians in Conflict; Internews (US Board Director) and Mandai Nature Fund Ltd. She is also a director of each of Will Focus Ltd, COMO Pte Ltd and Como Holdings Pte Ltd, companies which are ultimately owned by Mr Ong Beng Seng and Mrs Christina Ong. Ms Ong is highly experienced in the luxury hospitality sector and brings insight into the Asian market. Her knowledge of relevant technology and application to digital and social media marketing is valuable in relation to enhancing the luxury customer experience.

Christophe Cornu

Christophe Cornu, 61, was appointed on 7 May 2013 and is an independent Director. Until the end of August 2025, Mr Cornu was Senior Vice President, Director of Special Projects Zone Europe, Société des Produits Nestlé SA, after having previously served as President of Nestlé France SA, CEO of Nestlé Suisse SA, and Chief Commercial Officer for Nestlé Nespresso S.A. Mr Cornu now provides consultancy and advisory services to companies. He is a member of the Supervisory Board (Conseil de Surveillance) of Unowhy S.A. , a Non-Executive Director of De’Longhi S.p.A and a Non-Executive Director of MDS SGPS, SA. Mr Cornu is a marketing leader with a track record of developing major brands and break through concepts. He is consumer focussed, with a complete view from brand purpose development through to marketing execution and provides valuable insight and challenge on brand and marketing related issues.

Leslie Serrero

Leslie Serrero, 51, was appointed to the Board on 7 September 2023 and is an independent Director. Ms Serrero has an MBA from Harvard Business School and extensive experience of luxury brand leadership. She has been International Managing Director of US luxury group Casa Kosmos Brands Group since October 2022, having previously held senior executive roles at Fendi France (2019-2022), Christian Dior Couture (2012-2019) and Lacoste SA (2009-2012). Prior to this, Ms Serrero was a project leader at Boston Consulting Group for six years, advising companies in the retail, consumer and fashion sectors on transformation and growth strategies.

James France

James France, 35, was appointed to the Board as a non-executive director on 30 July 2025. Having joined Frasers Group plc’s property division in 2016, Mr France is a senior member of the Frasers leadership team and has been instrumental in shaping Frasers’ growth and investment approach to ensure success in a dynamic retail landscape. Prior to joining Frasers Group plc, James built a strong foundation in the property industry working with prominent firms in the North of England and gaining in-depth expertise in leases and real estate, asset management, commercial valuation and property development. Mr France holds a number of directorships within the Frasers Group plc portfolio. Mr France is a Chartered Surveyor and brings with him extensive property industry expertise and strategic property vision both domestically and internationally.

Godfrey Davis

Godfrey Davis FCA, 76, assumed the non-board role of Life President from 1 October 2022. Godfrey performed the role of Chief Executive from 2002 until June 2012; and Chairman of the Board from June 2012 until 30 September 2022. He is a Fellow of the Institute of Chartered Accountants in England and Wales and joined Mulberry as Group Finance Director in 1987 after 15 years at Arthur Andersen, where he was an international partner. He is a director of Pittards plc and Hestercombe Gardens Limited and he is a trustee of Hestercombe Gardens Trust. Mr Davis is an experienced leader of private and publicly owned entities and has a strong understanding of the UK AIM market. He has a deep knowledge of the leather goods sector over many years.

Board Responsibility

The Board is responsible for formulating, reviewing and approving the Group’s strategy; in addition it has overall responsibility for the budgets and corporate actions. The Board recognises the importance of high standards of corporate governance and supports the principles contained in the Revised Code, applying them where they consider them appropriate to Mulberry Group plc.

Audit Committee

The Audit Committee is chaired by Mr Steven Grapstein. The other members of the Committee are Mr Christophe Cornu and Ms Leslie Serrero (appointed 7 September 2023 to replace Ms Julie Gilhart). During the year all Directors have been encouraged to attend Audit Committee meetings where possible as part of the programme to maintain the Group’s systems of internal control. The Committee may examine any matters relating to the financial affairs of the Group. This includes the review of the annual financial statements, the interim financial statements and other financial announcements, prior to their approval by the Board, together with accounting policies and compliance with accounting standards, and of internal control procedures and monthly financial reporting, and other related functions as the Committee may require. The Non-Executive Directors have access to the Group’s auditor and legal advisers at any time without the Executive Directors being present.

Investor Relations | Corporate Governance | Mulberry

Corporate Governance

The QCA Code

Melissa Ong

Christophe Cornu

Leslie Serrero

James France

Godfrey Davis

Board Responsibility

Nominations And Remuneration Committee

Audit Committee

News releases

Latest Reports

Current Share Price

Corporate Governance

The QCA Code

Melissa Ong

Christophe Cornu

Leslie Serrero

James France

Godfrey Davis

Board Responsibility

Nominations And Remuneration Committee

Audit Committee

News releases

Latest Reports

Current Share Price

My Mulberry