DIRECTORS will be forced to put themselves up for re-election by shareholders every year under controversial measures to be introduced in a new boardroom code published this week.
The increased scrutiny, to be laid out by the Financial Reporting Council (FRC), is the most comprehensive overhaul of corporate governance since the banking collapse.
A number of blue-chip companies and veteran directors are likely to oppose the new, stiffer rules. They fear the move will undermine collective decision-making and leave firms leaderless if whole boards are ejected at once.
See full Article.
Posts
