Hermes chief executive Saker Nusseibeh is pleased the new UK Corporate Governance Code sets out a number of paths that boards can follow to improve worker representation.
UK Corporate Governance Code - July 2018
Stronger representation of the workforce on the UK’s major company boards is one of the key highlights of the reconstituted Corporate Governance Code, according to commentators.
The code sets out a number of changes, including a nine-year chair term unless explained otherwise; stronger consideration of the workforce at board level; and "comply or explain" on holding shares for at least five years if awarded as a bonus.
While workforce engagement is now an integral part of boards' responsibilities under the new code, it doesn’t prescribe a single action. Instead, it suggests that one or a combination of methods should be utilised, in
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