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10 Sep 2002
In response to the review of non-executive directors, lead by Derek Higgs, ICAS said companies should encourage senior managers to take up NED positions at other companies in order to develop their own skills and experience.
At the same time, it said companies should take on younger, less experienced non-execs to bring fresh ideas to company boardrooms.
ICAS said the continued strength of UK businesses was dependent on developing boardroom skills, and building a culture of developing younger individuals.
But it warned, a balance must be struck between duties imposed on NEDs and the subsequent liabilities these duties exposed them to.
The Higgs review is looking at the role of non-executive directors especially with regard to corporate governance issues in the wake of Enron and WorldCom.
Responses to a consultation paper closed on 6 September.
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