FTSE-100 chairmen unhappy with Higgs
Chairmen of FTSE-100 companies have registered their concern over the proposed reforms included in the recent report on non-executive directors by Derek Higgs.
A survey by executive recruitment company Russell Reynolds Asscoiates found that 80% of the 30 FTSE-100 chairmen interviewed said they were opposed to increasing the role and responsibilities of senior independent directors.
The report was described as ‘unattractive, time-consuming and divisive’ by a respondent who doubted that many would want to take the proposals up.
Of particular concern was the proposal that senior non-execs would attend regular meetings between management and shareholders, which some chairman found’very dangerous’.