A proposed new corporate governance code is likely to highlight boardroom responsibility for culture, and ask nomination committees to play a role in building diversity and an executive pipeline.
The responsibility of company boards for corporate culture is likely to be included in a proposed new version of the UK’s corporate governance code.
There will also be proposals for nominations committees (nomcos) to be responsible for diversity, not only in boardrooms but across their entire organisations. Nomcos could also be given a more explicit role in building an executive pipeline.
Elsewhere the new code could include proposals to give remuneration committees widened responsibilities for pay across organisations, not just in the boardroom.
The potential changes were revealed by Anna Colban of the Financial Reporting Council
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda