BusinessCompany NewsSir Bryan shrugs off code breakers

Sir Bryan shrugs off code breakers

With less than a week to go until the new Combined Code on corporate governance comes into force, the chairman of the Financial Reporting Council has said that he is unconcerned if some companies do not meet all of its requirements.

Link: Higgs report special

There had been concerns that companies would refuse to go along with some of the more unpalatable parts of the code, which comes into effect on 1 November, in the light of Barclays’ plan to move chief executive Matt Barrett to the position of chairman and a similar move for Sainsbury’s Sir Peter Davis.

However FRC chairman Sir Bryan Nicholson is unconcerned by these moves. Speaking to the Financial Times he said: ‘There are always going to be exceptions. Who the hell will care about any individual case two or three years down the line?’

Sir Bryan added that he was pleased to see that the trend for chief executives becoming chairmen was ‘going out of fashion’.

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

4m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

8m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

1y Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor