The Milan bourse said listed companies will have to appoint 'a lead independent director' in order to protect investors in companies owned by families or controlled by an executive chairman, as part of new rules for listed companies.
The bourse has upgraded its corporate governance code for listed companies, the first time since 2002, and after Parmalat's collapse at the end of 2003.
Speaking at a presentation, president of stock market regulator Consob Lamberto Cardia said the code is in line with Consob's efforts to prevent further scandals such as Parmalat and Cirio.
See full Article.
Posts
