Welcome to the second part of our blog series based on The Chartered Governance Institute UK & Ireland podcast Kerry Round took part in earlier this year. This blog will consider if it’s necessary to change the structure of a board following an Initial Public Offering (IPO).
In Kerry's opinion, changing the structure of the board is inevitable: 'There’s no getting away from it. When a company embarks on an IPO, the governance landscape within an organisation will change. The UK Corporate Governance Code 2018 (which is the governance standard to which all companies admitted to the LSE must comply to), is extremely clear on what it expects from a board of directors and its committees.
All companies aiming for admission will have to flip the spotlight and look inward at its board structure and ensure that it’s ready to meet the high standards.
There are so many things to consider at this point including:
With 15 years of experience as a governance practitioner in listed, quoted and large private organisational structures under her belt, Kerry recognised a better way of doing things. She established Round Governance Services to make governance more accessible and easier to understand. She also wanted to move the role of governance into the 21st century and create a business that supports flexible and agile working. Here's their company purpose: ‘as a socially-minded business, our purpose is to practise good governance for ourselves, our clients who trust and depend on us, and the communities who rely on us all. Our tailored and proactive approach to work is fundamental in achieving this.’
Find out more about Round Governance Services.
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Kerry discusses this subject in more detail in our episode of the Engage Governance podcast ‘Understanding IPO governance'.