What are the qualities of risk committee chairs? In April 2018, NEDonBoard hosted a Risk Committee Board Best Practice® evening event. Marcia Cantor-Grable was one of the panelists and NEDonBoard had the opportunity to interview her ahead of the panel discussion to get her view over the essential qualities that a risk committee chair should possess. …
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Following last week’s article, The New UK Corporate Governance Code by Mark Cardale, Part I – which provided an overview of updates to the UK Corporate Governance Code, published on 16 July, 2018 – in Part II we focus on some selected points where the draft Code has been altered following the 2018 FRC consultation. Introduction to…
DetailsThe long-awaited final version of the UK Corporate Governance Code was published on 16 July, 2018, reflecting the results of the consultation carried out by the FRC on a draft of the new Code (the “draft Code”) which closed in February. Along with the final version of the new Code, the FRC has also published a final version of its new Guidance on Board Effectiveness and a Feedback Statement on…
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Toys Are Us? Blockbuster? Kodak? Or Amazon? What do the first three companies have in common? They no longer exist. This is because they all were stuck in a way of working, or an existing product and couldn’t adapt to change. Not Amazon – it just gets more and more successful each year. Change management is vital for the survival…
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NEDonBoard has been compiling views from its community following the collapse of Carillion. Members were asked to share with us the main lessons that they have learned, having regards to ‘what went wrong’, given that these may provide useful learning experience to NEDs. Today, we are publishing the view of Laura Marianello, writing in her…
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Cyber risk to date has featured on many boardroom agendas. Sometimes as a regular item, sometimes buried deep within the overall risk reports. The board are charged with creating the strategy and accounting to the shareholders for company performance. Naturally, risk management features significantly in most companies. Large companies are usually more sophisticated at monitoring…
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On 15 January 2018 Carillion plc was forced into liquidation. Prior to its demise, Carillion was a multinational construction services and facilities management company with headquarters in Wolverhampton, United Kingdom. Carillion, prior to its liquidation, had liabilities of about £7 billion, was the second largest construction company in the UK, was listed on the London…
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The collapse of Carillion has reignited debate about the effectiveness of non-executive directors. Specifically, the report issued by the Parliamentary select committee in May outlined the role of Carillion’s board of directors in the collapse of the company. As the Professional Body for the non-executive director and board member community, NEDonBoard calls for non-executive directors…
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On 13 June 2018, a public consultation was issued by the FRC on the draft Principles of the Coalition Group led by James Wates CBE on corporate governance for large private companies. The consultation will close on 7 September 2018 and the final Principles and guidance will be published in December 2018. As the Professional…
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This year we published our Board Best Practice Guide to the Audit Committee. The Audit Committee’s main rule is to hold management to account. It acts as an early warning system for the board and is independent of the Finance Director and CEO. As you know, this is the third line of defence: it provides…
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