FTSE-100 fails to deliver on Higgs
Many FTSE-100 companies are failing to meet key recommendations of the Higgs' review on non-executive directors.
Link: CIMA chief defends Higgs’ report
The findings come from a survey carried out by headhunters, Armstrong International, which reveals that in a quarter of FTSE-100 companies, less than half of the board was made up of non-executives.
Five per cent of companies had a joint chairman and chief executive role, which is in clear breach of current best corporate governance practice, as recommended by Higgs.
On top of this, 9% of board nomination committees did not have a majority of independent non-executives, and six companies didn’t have a nominations committee at all.