Poll reveals biggest corporate governance stories of 2017

London, 11 December 2017 – The Government’s Green Paper on corporate governance reform, revisions to the UK Corporate Governance Code and the implications of the BHS pensions ‘scandal’ top the list of key governance stories and events in 2017, according to a poll out today from ICSA: The Governance Institute and recruitment specialist The Core Partnership.  

Other governance stories making the list included:

  • The Hollywood, BBC and political scandals over abuse of power/sexual harassment
  • Remuneration, including proposals to require listed companies to report the ratio of CEO pay against the average UK worker’s pay and gender pay issues
  • Proposals to mandate large private companies to comply with  governance code
  • Board diversity
  • The value of workers on boards
  • Tesco balance sheet manipulation/Tesco auditors
  • The LSE shareholder challenge.

“2017 has seen a plethora of governance news, some of which has been largely positive, such as the Government’s pledge to reform corporate governance, and some of which has been far more negative, such as the stories of sexual harassment and abuse of power in Hollywood, Westminster and beyond. There is a clear need to create an environment where reports of this nature are taken seriously and good governance is one way in which UK companies can help to enforce cultural change,” says Peter Swabey, Policy and Research Director at ICSA.  

Peter continues:

“The general election result and the ongoing Brexit negotiations have pushed reform down the political agenda, but the recent launch of the Financial Reporting Council’s consultation on changes to the Corporate Governance Code is an ideal opportunity for people to refocus their minds, and help to create a better governance environment in which UK businesses can flourish. With Brexit looming, long-term success and sustainability will be inextricably linked to corporate culture and business integrity.”

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Notes to Editors:

  1. ICSA: The Governance Institute is the professional body for governance. We have members in all sectors and are required by our Royal Charter to lead ‘effective governance and efficient administration of commerce, industry and public affairs’. With over 125 years’ experience, we work with regulators and policy makers to champion high standards of governance and provide qualifications, training and guidance.
    Website: www.icsa.org.uk
  2. The Core Partnership is a niche market recruitment consultancy working with Company Secretaries and their teams to advise on and resource their specialist interim and permanent manpower needs. With relevant professional backgrounds spanning back to the 1980s, The Core Partnership has a wealth of knowledge of the development and dimensions of the role of the Company Secretary. The team provides market advice on relevant qualifications and experience, conducts salary and benchmarking exercises and works throughout the UK and overseas recruiting at all levels to this specific discipline. 
    Website: www.core-partnership.co.uk 
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