Stephen Haddrill, Chief Executive, called on the European Commission to focus on behaviours rather than rules in a speech to the ICSA Corporate Governance Conference. He argued that comply or explain should remain a fundamental cornerstone of the EU framework.
He said:
“…above all, those responsible for change must recognize that rules are not an end in themselves. The goal is to encourage the right behaviour in the boardroom – openness, probity, clear strategic thinking, selfless stewardship – in the interests of the company and its owners. Law provides minimum safeguards. But in our ever-changing global economy which throws up an endless stream of complex challenges, governance needs to be rooted in the directors’ personal commitment to strong principles and values, supported by engaged investors. Those are the aims of the UK Corporate Governance and Stewardship Codes. And in view of the record of progress in UK corporate governance, they are aims that I am confident they can and will deliver.”
See full Press Release.
Posts
