Carillion’s Collapse Provides Important Corporate Governance Lessons

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…

NEDonBoard Press Release – NEDonBoard calls for tougher requirements on non-executive directors and board members following the collapse of Carillion

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…

The 8 take-aways of our insightful “Digital Expertise In the Boardroom” Board Best Practice Event

NEDonBoard received very positive feedback from its recent Digital Expertise in the Boardroom event, which we held on Tuesday 12th June. Passionate experts discussed blockchain, artificial intelligence and cyber risk in the context of the boardroom. Attendees not only gained insight into these topics but contributed to the debate through engaged conversations with our speakers…

ArtificiaI Intelligence and the Board Risk Committee by Isaac Alfon, senior risk practitioner and NEDonBoard member

The purpose of risk management in financial services is usually defined as to ‘protect and enable’. The ‘protect’ dimension can refer to the franchise value of the business but is mainly about protecting from regulatory intervention. ‘Enable’ has a perspective of value (however defined) and achievement of company objectives. AI-based solutions, leveraging on vast amounts of…

Carillion’s lessons learnt – Part 1: Why all non-executive directors and board members should complete a training programme

The report of the select committees on the collapse of Carillion, released on 16th May has raised a number of important issues, ranging from the company’s corporate culture; its internal control environment; the competence and complacency of its auditors and advisors; the duties of the non-executive directors, chairman and senior executives who were members of…