Sunderland takes governance chair

Former CBI president Sir John Sunderland is to take on the chairmanship of the committee overseeing corporate governance guidance in the UK.

Sir John will chair the Financial Reporting Council's corporate governance committee takes over the role from Baroness Hogg, the former chairman of 3i.

The committee core job is to be the watchdog keeping an on the development of corporate governance.

"As we learn the lessons from the financial crisis it is important that companies increase their accountability to shareholders and nurture boardroom talent to ensure the UK remains an attractive and competitive place to do business," Sir John said.

Sir John Sunderland, the senior businessman and former CBI President, has been appointed Chairman of the Financial Reporting Council’s Corporate Governance Committee.

The FRC is currently undertaking a general review of corporate governance following the publication of the Walker report into regulation and the economic crisis. One of the most controversial proposals on the table is the annual re-election of board directors, a idea which has met with stiff resistance from big business.

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