Comment

Alex Edmans

Purpose at the heart of business and how to achieve it

A new report calls for radical reform of UK governance, placing six policy levers at the core of creating "purposeful" companies that would benefit both business and society. Alex Edmans explains how this could be achieved.



Alice Garton

Are directors courting legal action by keeping quiet on climate risk?

In Australia recently, shareholders filed legal action against Commonwealth Bank—it had allegedly failed to disclose climate risk accurately. Could this be the first of many such cases? How should directors report on climate change risks in the face of an uncertain future?



Amanda Mackenzie OBE, chief executive, Business in the Community

Digital revolution: how business can address the impact

The digital and technology revolution is a force for good in society, but we must all address the impending impact and any unintended consequences it may cause.



Angeli Benham

Mind the (pay) gap

The gulf between executive and employee pay is widening, but nomination and remuneration committees should exercise restraint, argues Angeli Benham of Legal & General.



Arad Reisberg

Will Theresa May transform business?

Prime minister Theresa May's approach to governance may be distancing the current government from a Thatcherite belief in the free market.



Catherine Banat

How to accelerate gender diversity

Proxy voting and management engagement are the best hopes to boost the number of women on boards—before regulators step in.



Catherine Banat

Want gender diversity on corporate boards? Try a diversity of tactics

Pushing a particular formula for getting more women onto boards is a surefire way to narrow the conversation and slow progress, argues Catherine Banat.



Catherine Casey

Workers on boards make sense and add value

Theresa May has reiterated her policy intention of placing employee representatives on company boards. Catherine Casey argues that workers bring expertise from the "floor" and will cultivate collaboration.



Chris Hodge

Untangling corporate governance

The UK's Corporate Governance Code has remained largely unchanged since its introduction in 1992. Chris Hodge examines how we can realign its purpose to match today's expectations of what it ought to achieve.

Chris Dawson

Why women and men too easily accept the gender pay gap

Women tend to be more pessimistic than men when assessing their own competence, so could this explain differences in choice of work, and therefore the gender pay gap?



Clare Payn

Making a difference through diversity in the boardroom

Voting is not just about boardroom composition but also the quality of organisations’ diversity policies, and that is why LGIM is putting its money where its mouth is.



Clare Richards

Workforce disclosure – on the agenda and here to stay

Investors are increasingly concerned that the workforces in which they invest are properly supported. A new initiative will provide them with vital information to help ensure they are.



Craig Smith

Trump puts business values to the test

CEOs of some of the biggest global firms have publicly opposed Trump’s travel ban, but will they show the same commitment to the environment?



Daniel Johnson

Is British business behaving more ethically, or does it just look that way?

Research shows an improvement in public opinion on ethical business behaviour. But is business really behaving more ethically, or does it just appear more favourable when compared with other scandal-hit sectors?



David Cooke

Feel the heat: climate change reporting

Campaign group ClientEarth has made formal complaints against two energy companies, claiming they failed to properly address climate risk in their annual reports. David Cooke, a lawyer with ClientEarth, explains why.



David Doughty

Cleaning up the governance act

UK business has made "great strides" in corporate governance, but recent events at BHS and Sports Direct have prompted questions about the behaviour of some directors. David Doughty argues that business needs to clean up its act.



David Doughty

‘Guinea pigs’ or highly trained professionals?

Being a company director requires much more than simply knowing the law, says David Doughty.



David Grayson

Why every board should care about their working carers

With at least one in nine employees in the average UK workforce being a carer for a loved one, boards should value and support these employee carers—or risk losing them, which impacts upon business and society.



Dina Medland

The great IT meltdown

There is little indication that banks are giving IT the kind of attention it undoubtedly needs.



Edward Speed

Beyond the boardroom

In the eyes of society, business is in the doghouse. How can we rebuild corporate trust and restore self-esteem? The answer lies in looking at the bigger picture, argues Edward Speed.



Eleni Kanelli

How accountants can help build a culture of sustainability

Accountants can embed lasting change in corporate culture by helping businesses to assess and communicate their non-financial information (NFI) and make the right decisions to ensure a more sustainable economy.



Estelle Clark

Governance concerns the whole organisation, not just the board

The 2017 Good Governance Report paints a positive picture of the quality of boardroom decisions in our largest organisations, but the focus must now turn to ensuring that the writ of the board is driven down through the organisation.



Filip Gregor

Sustainable Finance report: implications for investors and directors

Reform of the financial system towards a sustainable economy has been detailed in an EU report, whose recommendations—which draw upon corporate governance reform—impact upon fiduciary duties in varying degrees.



Fiona Hathorn

Gender diversity on UK boards in need of a ‘step change’

A significant change is now needed from boards across the UK—and possibly the introduction of quotas—if we are to ensure cultural change across corporate UK.



Fiona Reynolds

Stepping up supply chain protection

Boards must pay heed to labour abuses in their supply chains by ensuring strong risk management and building stable relationships—or face the many damaging consequences.



Gavin Hinks

How many chairships is too many?

The controversy over Sir Nigel Rudd's multiple chairships is part of a trend of investors—and governance experts—challenging overboarding and questioning whether non-executive directors can meet their commitments.



Gavin Hinks

The changing face of activism

Comment: A report suggests that activist investors are softening their approach as they increasingly target European companies. So who are they targeting and what can boards do to prepare?



Gavin Hinks

Nissan’s governance report is a warning for all boards

Comment: The special committee's investigation into governance issues highlighted by the Carlos Ghosn affair reveals a corporate culture that allowed the "concentration of authority" in the CEO and a board that felt unable to ask the necessary questions.



Gavin Hinks

Sir Roger Carr: What makes a good non-executive?

Board Agenda was at the Non-Executive Director Awards in London to see Sir Roger Carr—chair of BAE Systems and the English National Ballet, former chair of Cadbury and Centrica—receive the Lifetime Achievement Award. In his acceptance speech Sir Roger explored the qualities that make a good non-executive.



Gavin Hinks

Business minister’s intervention on board diversity is long overdue

The only surprising thing about business minister Kelly Tolhurst's letter raising the issue of ethnic minority representation on UK company boards is that it has taken so long.



George Dallas

Balancing act: stock exchanges and dual-class shares

As stock exchanges allow dual-class shares in a bid to attract new listings, investors worry they that represent a “watering down” of listing requirements.



George Dallas

Share buybacks: a question of governance?

The UK government is investigating share buybacks, but could capital allocation be a subject for more disclosure and the corporate governance code?



Giorgio Saavedra

Integrated thinking can create long-term value

The concept of value has changed over the past decade; now, there is growing realisation that a more holistic, inclusive approach to business is the way forward.



Higgins

The Bored: Higgins on (un)sustainability

Higgins, Board Agenda's resident cartoonist, seems to think that some board executives just don't get this whole sustainability thing—but their businesses will lose out in the end if they don't embrace it.



Higgins

The Bored: Higgins on digital non-transformation

With the tide of digital revolution upon us, Higgins, Board Agenda's resident cartoonist, proposes a radical alternative to going with the digital flow.



Higgins

The Bored

Higgins, our resident cartoonist, turns his attention to boardroom diversity.



Irena Prijovic

Directors must do more to restore public trust

If business is to restore public confidence and trust, then responsibility must fall with directors to communicate with society beyond company reporting, argues Irena Prijović of ecoDa.



Janet Williamson

There’s still everything to gain from having workers on boards

Despite the government’s U-turn, there remains a good case for companies to bring employees into the boardroom, says Janet Williamson of the TUC.



Jenni Henderson

Giving out perks doesn’t necessarily lead to results

Paying executives extra doesn't guarantee optimum performance. It's a question of balance, argue Jenni Henderson and Josh Nicholas.



Jeroen Veldman

Britain’s broken corporate governance regime

Tesco's accounting scandal helps demonstrate that continuous “improvements” underlying the UK Code of Corporate Governance have, over the past 23 years, amounted to little more than a minor facelift.



Jo Iwasaki

Why the pay debate refuses to go away

Transparency, alignment and the impact on employees are all considerations when forming an approach to rising levels of executive pay.



John Hurrell

Rethinking risk leadership

John Hurrell argues that a new approach to risk leadership is required in our more challenging business environment.



Jonathan Labrey

Sustainable development means securing the future of business

It's time to recognise that sustainable development is a strategic issue that can secure the future of business, as well as securing a better future for people and planet, says Jonathan Labrey of the IIRC.



Joseph Byrne

Why contract theory won the Nobel economics prize

The prize for economics goes to two men who have helped reduce risk in contract design.



Ken Olisa

View from the chair: Ken Olisa on good governance

The debate over good governance should be led by practitioners, not regulators, but companies need a deeper understanding of how their boards operate, says Ken Olisa of the Institute of Directors.



Kerrie Waring

Origins of investor stewardship and the Japan code

Abenomics brought a host of changes to Japan, not least the introduction of a new stewardship code for investors. The code is now being updated with new guidance, explains Kerrie Waring of the ICGN.



Kerrie Waring

Why one share, one vote is the best long-term investment option

Differential share ownership has become a preoccupation with some tech companies but, argues Kerrie Waring, there’s little evidence that it helps companies plan for the long term.



Kieran Moynihan

View from the chair: Kieran Moynihan on PE versus PLC board performance

Private equity boards are often viewed as high-performing teams, but Kieran Moynihan, chairman of Board Excellence, explores whether PLC boardrooms could do just as well.



Kris Byron

Female directors positively influence firms’ corporate social performance

To enhance the benefits of diversity for corporate social performance, efforts should be directed at holding boards more accountable to diverse stakeholders and improving the status of women, says Kris Byron



Lars-Erik Forsgårdh

Fostering the principle

High-quality explanations for deviation from corporate governance codes are needed if the "comply or explain" principle is to take root across the EU.



Laurie Fitzjohn-Sykes

Governance should aim at investment for greater good

The key focus of governance reform should not be on reducing the number of scandals, but instead on how to encourage risk-taking and investment in pursuit of a societal purpose, says think-tank Tomorrow's Company.



Maggie McGhee

How boards can use technology to retain a competitive edge

Knowledge and skills in the boardroom must evolve with the risks and opportunities presented by technology—as well as its associated data—if companies are to remain competitive.



Marie-Louise Clayton

Boardroom lessons from Brexit

Comment: Negotiations to leave the EU have proved enormously complex and have exposed major fault lines in British politics. But the process has also been instructive about the challenges and principles of leadership. Our commentators discuss the lessons they take from events so far.



Marion Plouhinec

Separation of powers makes for healthy board dynamics

Splitting the roles of CEO and chair may help companies prepare for future challenges and avert the risks associated with concentrating power in the hands of one individual.



Michael Price

Executive pay battle: a futile stomp over old ground

A government green paper proposes binding votes on executive pay. Michael Price argues that the "corporate elite" has tried and failed to self-regulate and it is time for something new.



Michel De Fabiani

France: Macron and the future of corporate governance

There is renewed hope in France for economic policy and its impact on corporate governance. Michel de Fabiani examines the expected positive outcomes for business.



Mirza Baig

How strong investor relationships stem from enhanced dialogue

Contact with investors should no longer be about winning support for policy decisions. It’s all about building deeper relationships, writes Mirza Baig, global head of governance at Aviva Investors.



Nada Kakabadse

Action needed now on banking fraud and the erosion of trust

Privatisation and self-regulation has created a financial services sector in the west that is rife with fraud and other criminal activity, says professor Nada Kakabadse of Henley Business School.



Nada Kakabadse

Board gender diversity requires a diversity of attitude

A spotlight has shone on showbusiness since the beginning of the #metoo campaign, but how can women feel empowered and make a difference in boardrooms?



Nigel Sleigh-Johnson

What’s next for corporate reporting: the technology question

The future of corporate reporting is a subject attracting much debate and activity in recent years. A new report from the ICAEW captures the views of key stakeholders, and finds that technology is central to the discussion.



Paige Morrow

Davos: Debunking the myth of shareholder primacy

The world's business and political elite meet this week in Davos for the annual World Economic Forum shindig. Paige Morrow argues they should focus on an end to shareholder primacy to reduce inequality.



Patrick Dunne

Anti-social behaviour

Socio-economic diversity may present a more complex problem than gender or ethnic diversity, but it makes commercial sense to sort it out.



Paul Boyle

Why boards need to support whistleblowers

The recently revised UK Corporate Governance Code has re-emphasised the importance of whistleblowing. Resources are available to help boards ensure they are well placed to support the process.



Paul Boyle

The audit market concentration ratchet strengthens case for reform

The audit market is being accused of lacking competition, but there is a case for reforming ownership rules.



Paul Kearns

Inclusive capitalism and total stakeholder value: the ideal marriage

In response to Board Agenda's interview with Lady Lynn Forester de Rothschild on inclusive capitalism, Paul Kearns of the Maturity Institute continues the debate with the idea that "inclusive" really should mean inclusive.



Paul Kearns

Human capital disclosure – resist, comply or exploit?

Efforts to improve global reporting on human capital management represents a major shift in corporate governance, and offers companies a competitive advantage that no board should ignore.



Peter Bakker

How business can recognise the true value of people and communities

The new Social & Human Capital Coalition will help make business more successful and society more resilient, argues Peter Bakker.



Peter Swabey

Dim prospects for employees on boards

A worker representative in the boardroom is an option for companies under the UK's new, revised governance code. A survey by ICSA reveals that other options will prove more popular.



Peter Swabey

Governance: collective wisdom applied to complex uncertainty

The ICSA's recent conference revealed that reform in the UK is unlikely to involve legislation, that company secretaries play a big role in managing boardroom tension and that governance has evolved into restoring faith in capitalism.



Peter Swabey

Bringing stakeholder comms online

A new project has been launched to develop advice for companies to improve stakeholder communications. Peter Swabey explains why and what the objectives are.



Richard Howitt

Long-term thinking: a key principle of 21st-century governance

The shift to integrated reporting may not be easy, but Richard Howitt of the International Integrated Reporting Council argues that if we are to create long-term value, it is crucial to embed it as a key governance principle.



Robert Lewenson

South Africa needs a stepped-up approach to governance

With South Africa's economy facing more tough times ahead, an increased focus on stewardship is vital. King IV should be used as a platform for good governance practices, argues Robert Lewenson.



Ruth Sullivan

Next-generation thinking on governance can’t be ignored

Tapping into the thinking of young professionals on issues that affect business, society and the economy is a vital part of any evolutionary process. Corporate governance is no exception.



Simon Lowe

Rebuilding trust, going beyond compliance

Compliance with the UK corporate governance code has improved but Simon Lowe argues that compliance is no longer sufficient.



Sophia McNab

Why serious investors demand more than just climate disclosure

Investors serious about climate change cannot settle for disclosure; their attention must now be on action, writes Sophia McNab of investment charity ShareAction.



Stephen Bonner

Do company boards need an expert in cybersecurity and technology?

Cybersecurity is at the top of boardroom agendas. Stephen Bonner of Deloitte asks whether boards need a member who is a dedicated cyber expert.



Susan Stautberg

Good governance should start with boards’ own performance

The concept of good governance should be taken a step further, to one of good board self-governance—especially if companies are to navigate difficult, disruptive times.



Susan Stautberg

Director performance and the ‘expectations gap’

Growing stakeholder pressure prompts changes in director recruitment, evaluation, and education, says Susan Stautberg of the WomenCorporateDirectors Foundation.



The Secret Ned

Secret Ned: The long (long) list

The new non-exec has to have something to do. Cue the comi-tragic process of finding a new chair.



The Secret Ned

Sink or swim: board leaders must go on a journey of discovery

Board leaders exist on stormy seas of change. The question is, can they stay afloat by adapting to the way the wind is blowing, or will they go down with the ship?



The Secret Ned

The gloves are off: gender pay gap reporting and dirty tricks

Since gender pay gap reporting rules came into force last year, some boards are playing dirty to avoid exposing higher male pay ratios.



The Secret Ned

Secret Ned: Time for the governance code to find its direction

A new corporate governance code is all well and good, but will it be an improvement on the last? Only if it asks the right questions, argues Board Agenda's Secret Ned.



The Secret Ned

Secret Ned: The serious dream of sustainability

It's time to wake up to the fact that business survival depends upon sustainability in its widest sense, including the need to adapt, says Board Agenda's Secret Ned.



Theo Botha

King IV code change favours quantity over quality

King IV’s “apply and explain” approach is resulting in the release of overwhelming amounts of information, which are obscuring—rather than highlighting—governance issues in South Africa.



Tom Delay

Every board has a role in the transition to a low-carbon economy

Climate change has placed a premium on moving to sustainable business models and a low-carbon economy. The task will need “positivity of purpose“ and “informed assessment“ of climate risks, writes Tom Delay of the Carbon Trust.



Turid Elisabeth Solvang

Build your company’s future on trust

Now, more than ever, boards need to repair and rebuild public trust. The answer lies in looking beyond profit and compliance, argues Turid E. Solvang.



Xavier Baeten

Why modesty is king when it comes to CEO remuneration

While executive pay may be perceived by many to be about scale, new research finds that less may well be more; indeed, the best-performing companies have been found to pay their CEOs relatively less than others.