M&S chair Archie Norman’s Share Your Voice petition would ‘restrict shareholders’ ability to engage’, says The Engagement Appeal.
Push continues to reform company directors’ duties so that they embrace a wider circle of stakeholders.
A High Court judge has determined that resigning from the board will not necessarily mean leaving all liabilities behind.
New report says the balance of company interests has swung too far towards shareholders and “away from working people who create the wealth”.
Directors are obliged to exercise independent judgment in their decision-making. But there is little guidance on what this means in practice.
John Lewis, Innocent and the Institute of Directors are backing the Better Business Act campaign to make purpose central to section 172.
Sections 171 and 172 can support the shift to stakeholder capitalism, says Professor Bob Garratt—but only if they are taken seriously and enforced.
Watchdog says investors expect companies “to articulate their expectations of the possible impacts on their specific business” amid Covid-19 crisis.
New S172 reporting requirements should spur firms to review how board decisions are reached, and push boards to learn more about the views of stakeholders.
Speaking at a Bloomberg event, Haldane said it was time for a “refresh” of the capitalist model—and added that legislative change should not be ruled out.