Tories blast Higgs' report
The Tories are to embark on a campaign against one of the central recommendations of the Higgs' report.
Link: Higgs’ special report
The proposals to beef up the role of a senior non-executive director will be the subject of attention from the opposition, said shadow trade and industry secretary, Tim Yeo.
‘We do not see in the normal course of events what the need for this [senior independent director] is going to be,’ he told the Financial Times.
He also said that listed companies outside of the FTSE-350 should be excluded from the requirement to have half the board, excluding the chairman, as independent non-executive directors.
A period of consultation on the proposed changes to the revised version of the best practice code on corporate governance lasts until April.