Member resource – corporate governance in the UK is regulated by the Combined Code, which requires companies to either comply or explain why they are choosing a different course – company secretarial guidance notes and best practice guides
Corporate governance in the UK is regulated not by legislation but by the Combined Code, which is annexed to the UK Listing Rules and requires companies to either comply or explain why they are choosing a different course. This means that companies are entitled to have procedures that suit their business, rather than follow a prescribed legal structure, as long as they can give an adequate explanation in their annual report for not following the Code.
This note looks to identify the respective roles of the Chairman, the Chief Executive and the Senior Independent (Non-Executive) Director