A revision of the UK’s Corporate Governance Code is out for consultation. Will it bring a halt to corporate scandal, and does it promise a bigger, broader objective?
Just when it might seem that corporate governance debacles were receding into the past, along come two more as reminders that confidence in business can be fragile. Events at Persimmon (over the chief executive’s £100m bonus), and Carillion (the collapsed construction company that entered liquidation with £1.7bn of debt), have once again placed governance on the front page and at the centre of public debate.
Coincidentally, those events come at precisely the same time as regulators are seeking to revise and strengthen the UK Corporate Governance Code. A new version is out for consultation. It introduces statements on company purpose, cor
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