Combined code changes open door to chairmen
Chairman of listed companies outside the FTSE350 will be permitted to be members of an audit committee providing they remain independent, according to changes announced to the Combined Code on corporate governance.
The changes revealed today will also remove the restriction on allowing someone to chair more than one FTSE100 company.
Sir Christopher Hogg, chairman of the Financial Reporting Council, the body charged with reviewing the code, said the changes were part of a ‘continuing evolution’ of the code.
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