A survey reveals that despite being an option in the UK’s corporate governance code, workers on boards is an unpopular choice.
In a speech launching her campaign to become Tory party leader Theresa May declared her earnest intention of placing worker representatives on company boards. The measure was all part of her plan to improve the way big business is run and embedded in a wider agenda to reform the economy for “greater shared prosperity”.
Two years on, workers on boards is just one of three options companies have been given in a new governance code. But news this week suggests it will prove highly unpopular.
One British governance expert told Board Agenda he was regularly “chastised” by continental colleagues for Britain’s lack of enth
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
Guidance from the US financial watchdog widens the use of a rule which allows companies to exclude shareholder proposals, potentially making it easier for companies to resist votes on social or ethical grounds.
Standard Life Aberdeen co-CEO Martin Gilbert offers reassurance that he will relinquish one of the two non-executive roles which currently place him in contravention of the UK Corporate Governance Code.