Tuesday, September 25, 2007

Code has led to ‘20% fewer’ directors


The number of executive directors in Britain’s 350 largest listed companies has waned by 20 per cent in the past five years, according to a survey by Deloitte, the accountancy firm.

Nearly 360 executive roles have disappeared within the FTSE 350 as a result of corporate governance guidelines, which require half of each board to be independent.

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