Limits on non-execs ruled out
The government has secretly ruled out fixing a limit on the number of non-executive directorships that a single person can hold according to reports.
This is despite it being a core issue for the forthcoming Higgs report, due in December, that reviews the role and responsibilities of non-executive directors.
It is believed that ministers do not want to copy the US by introducing tough legislation to curtail corporate excess, but instead will offer guidance on the time a person should realistically spend on a board if they hold multiple directorships.
The government has denied that it will pre-empt the Higgs report and would use all the information available before making such a key decision, according to the Financial Times.