In the UK, the requirement for regular formal evaluation of board performance was introduced in the 2003 Combined Code – the UK’s then Corporate Governance Code - which followed the 2002 review into nonexecutive directors by the late Sir Derek Higgs . The
At its most basic level corporate governance matters to investors because there is a strong correlation between good governance and high financial returns. Numerous studies have shown that good corporate governance helps firms improve their operational ef
Subsidiaries are a fact of life for virtually all companies - like the corporate form itself, they are ubiquitous.
Many boards have gotten away with meetings that were neither focused nor particularly interactive. Some boards have been put together with more emphasis on politeness than on professionalism.
The chairman’s role is mainly to look after shareholders’ interest in the company. He needs to look at whether policies, procedures and governance are properly implemented. The actual work is mostly done through different committees formed by the board, f
A mutual structure – where an enterprise is owned either by its employees or its customers – is a relatively rare choice for regional enterprises. Family businesses will have little reason to convert, and the advantages for a growing business in need of c
The rapid rise, and even faster decline of Nokia, once the global leader in mobile phones, counts among the most dramatic corporate transformations in modern history. It is a story of several wise choices by the Board of Directors, and a few where the top
Social media refers to platforms/sites hosted on the internet that provide a gathering place for people to interact with each other. Once people are assembled on a site they are free to create, share, and exchange information and ideas.
The chairman and company secretary have distinct yet symbiotic roles to fulfil in monitoring, fostering and ensuring the maintenance of best of breed governance practices within an organisation.
The role of the chairman is to ensure that the board and its committees, especially the nomination committee, have this continual process in mind and that rational, rather than reactive decisions are taken. While many chairmen delegate execution to the no