The very nature and definition of governance has evolved into a complex and critical beast. It’s time for directors to grab it by the horns and take control.
Long accustomed to operating in obscurity, company directors have found their peace and quiet disturbed lately by all kinds of clamour at the boardroom door.
Many major enterprise failures are blamed on failure of governance. Activist shareholders believe they know better. Proxy advisors grade board performance. Women and minorities lament their lack of inclusion, and the lovely phrase “board refreshment” is a polite way of saying that new blood is needed. Regulators globally debate whether and how to add more rules to ensure that boards perform.
“It is of the essence of revolutions of the more silent sort that they are u
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The UK’s comply-or-explain system of corporate governance, introduced in 1992, has been widely admired and imitated, but it's not without its critics; there is room for improvement, while retaining the Code's spirit of flexibility.