US draws up corporate governance blueprint
A new US corporate governance blueprint, along the lines of the UK's Higgs report, has been drawn up making 77 recommendations.
Corporate governance still not top of the agenda
Richard Breeden, the former chairman of the Securities and Exchange Commission, has made the recommendations to avoid future failures such as those that happened at WorldCom.
Breeden, who was appointed by the courts to monitor WorldCom’s bankruptcy and overhaul corporate governance, recommends that all members of the board apart from the chairman and chief executive should be independent. It is also touting the creation of a non-executive chairman role to sit alongside the chairman.