UK Government Announces Corporate Governance Reform Package
This morning the Government set out its “world leading” package of corporate governance reforms designed to increased boardroom accountability and enhance trust in business. The reforms focus on three areas: Executive pay, employees’ voices, and corporate governance in privately-held businesses. The announcement follows a wide-ranging consultation which ended in February. Despite the “watering down” of some of these proposals, there are positives including the development of a new corporate governance code for privately-held businesses.
UKSIF has produced a summary brief of the Government’s proposals which is available here.