UK businesses may not be doing enough due checks on the relevant credentials
of company directors they hire, as a quarter FTSE 100 chairmen have little
relevant experience of the industries in which they work, new research has
The research claimed that in 18% of cases, boards failed to communicate any
‘clear aim’ for the company and also further stated that that ‘the workings of
the board remains opaque to stakeholders who are then forced to wait until the
strategy plays out to see whether it delivers shareholders value or not’.
‘An ineffective board will destroy value for shareholders,’ the research
Bonham Carter, a partner in the board advisory firm Armstrong Bonham Carter
firm – which published the findings – raised questions about whether the UK’s
Combined Code of Corporate Governance should be reviewed to compel companies to
set targets for their directors and promote board transparency.
‘Chairmen and their boards always claim they are effective. We have unearthed
strong evidence to the contrary,’ he said.
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