BusinessBusiness RecoveryPublic sector to split governance roles

Public sector to split governance roles

Last Friday's amendments to the Enterprise Bill are expected to spark a government drive across UK public bodies to split the roles of chief executive and chairman.

Link: Hewitt ushers in Enterprise Bill

The government has already agreed to split the director general role at the Office of Fair Trading when current chairman Sir Howard Davies steps down in 2004. At that time, current director general John Vickers will see his role split into two separate positions shortly before his contact expires in 2005.

Lord Hunt of Wirral’s crucial amendments to the Bill force equal governance standards for both private and public bodies by demanding split roles for chief executive and chairman.

Other public bodies are expected to follow the OFT’s plans to split their director general role, including the Financial Services Authority, energy regulator Ofgem and new communication regulator Ofcom.

The amendments to the Enterprise Bill has been a victory for a cross-party group of peers, led by Lord Hunt. ‘In managing its affairs the OFT must have regard to the generally accepted principles of good corporate governance,’ Hunt told his peers.

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

1w Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

1w Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

4w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor