Sunderland takes governance chair
FRC appoints new corporate governance chief
Former CBI president Sir John Sunderland is to take on the chairmanship of
the committee overseeing corporate governance guidance in the UK.
Sir John will chair the Financial Reporting Council’s corporate governance
committee takes over the role from Baroness Hogg, the former chairman of 3i.
The committee core job is to be the watchdog keeping an on the development of
corporate governance.
“As we learn the lessons from the financial crisis it is important that
companies increase their accountability to shareholders and nurture boardroom
talent to ensure the UK remains an attractive and competitive place to do
business,” Sir John said.
Sir John Sunderland, the senior businessman and former CBI President, has
been appointed Chairman of the Financial Reporting Council’s Corporate
Governance Committee.
The FRC is currently undertaking a general review of corporate governance
following the publication of the Walker report into regulation and the economic
crisis. One of the most controversial proposals on the table is the annual
re-election of board directors, a idea which has met with stiff resistance from
big business.
Read more:
Haddrill
calls for expanded FRC powers
Election
of directors up for the vote