Revisions to the UK Corporate Governance Code, published in July, have sparked mixed reactions from commentators. One thing is clear: the new code won’t please everyone.
Sir Win Bischoff, FRC
Foreword by Gavin Hinks
The UK is coming to terms with a new corporate governance code. Published in July, the document makes a number of big changes, giving the corporate world much to think about.
The code asks boards to consider their “contribution to wider society”, places new responsibilities on directors to manage company culture, and asks boardrooms to engage with their employees.
However, the code has pulled back from a rigid nine-year limit for chairmanships, offering more flexibility.
Principle A of the code places “society” at the heart of boardroom thinking. It says: “A successful company is led by an effective and e
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