Since the introduction of Deferred Prosecution Agreements (DPAs) into the UK in February 2014 there have been four reported cases to date (Standard Bank, XYZ, Rolls-Royce and Tesco). DPAs are appealing to both corporates and the Serious Fraud Office (SFO). They allow corporations to escape criminal prosecution by paying a fine and improving compliance. This…Details
The collapse of Patisserie Valerie offers some key lessons for non-executive directors and board members. Find out what these lessons are!
On Tuesday 22nd January, Patisserie Valerie announced that it failed to secure an extension to its lending facilities and that it had to collapse into administration. Patisserie Valerie is the latest high-profile company to collapse because of fraud and inaccurate data. This raises some of the exact same issues as the collapse of Carillion did:…Details
NEDonBoard calls for SMEs and large private companies to draw from its pool of talented business leaders and appoint NEDs that will help them drive growth, deliver strategic objectives and fulfill their corporate mission
NEDonBoard press release, London, Thursday 17th January 2019 NEDonBoard calls for SMEs and large private companies to draw from its pool of talented business leaders and appoint NEDs and/or advisory board members who will help them drive growth, deliver strategic objectives and fulfill their corporate mission. SMEs and large private companies must understand the value…Details
In September 2018, NEDonBoard hosted a series of roundtable discussions with the experienced portfolio board chairs; committee chairs; NEDs, company secretaries and CEOs. Following this, NEDonBoard hosted a panel discussion sharing some of the key insights from both the round table discussions and personally of the panellists.
The panel discussion was recorded for NEDonBoard members unable to attend, and can be viewed here – a worthwhile watch for any aspirant chair and those experienced in the role looking to continue the learning journey.Details
A highly recommended video to watch for all board members interested in good corporate governance.
Guest speaker Sir Win Bischoff, Chairman of the FRC, spoke around good corporate governance, and key elements of the new UK Corporate Governance Code (effective from January 1st, 2019). Interviewing Sir Win was portfolio non-executive director, Kathie Child-Villiers.
Evolving Boardrooms Board rooms have come a long way and are still evolving. It used to be something a retired professional did on a volunteer basis to help a CEO friend. Later the accountant, company secretary, and a few others joined and were paid a nominal amount for the service. The table started growing as…Details
Mr Ghosn was arrested in November on suspicion of understating his compensation package in the reported financial statements of Nissan. His arrest has raised uncertainty over the future of Renault-Nissan. The corporate scandal has highlighted important corporate governance issues worth the attention of the NEDonBoard community of non-executive directors and board members. To discuss these…Details
On Tuesday 27th November, Thomson Reuters hosted a NEDonBoard expert panel event on the key learnings from the collapse of Carillion. Olivier Garrigue, experienced Chairman, CEO and entrepreneur, chaired the panel, which comprised Kate Holton, Thomson Reuters journalist and Giles Boothman, partner and restructuring lawyer at Ashurst. Lucinda Case, Managing Director of Thomson Reuters UK…Details
Last week, in Part 1 of this piece, we looked at distinctions between the roles of the executive and non-executive director (“NED”), the legal background to this, and the executive director’s employment contract. In Part 2 this week, we look at some further related issues. The NED’s letter of appointment A NED, like an executive…Details
People often ask what the distinctions are between executive and non-executive (NED) directors. And often this question will be linked with others – including questions about the significance of the distinctions, the value of having both executives and non-executives on the board and the means of ensuring the proper functioning of a board whose members include both types of directors on…Details