BusinessCompany NewsFormer Dixons chairman slams Higgs

Former Dixons chairman slams Higgs

The former chairman of Dixons has slammed the Higgs report on corporate governance, describing it as 'a new high in lows'.

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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