Link: Higgs special report
Speaking at a retail awards dinner this week, Sir Stanley Kalms described Derek Higgs as ‘a previously intelligent banker who has obviously been brainwashed’.
He described the report as a knee-jerk reaction to Enron and said that it might actually make things worse in the UK. Of particular concern to Kalms is the proposal for a senior non-executive director, which he said would create a dual chairmanship for companies.
‘I just don’t think it has been thought through,’ he said. ‘Just because of Enron you do not have to change every company into a single formula. The nature of business is that there will be abuses – and whatever you do, somebody will find a way through,’ reports the FT.
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