Index July 2003
Comment
Changes to boards can not be cosmetic
Richard Northedge
At one point in her report on recruiting non-executive directors, Laura Tyson hints that the wider talent pool may include
academics, but the London Business School’s dean has not been a good advertisement for her profession. She has done what her students would be marked
down for: producing an essay that repeats the question without answering it.
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Governance
ICGN
Focus on making corporate governance work
The
International Corporate Governance Network (ICGN) meets this month for its ninth annual conference,
Making Corporate Governance Work, in Amsterdam.
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Tyson Report
Boards will gain from NED diversity
A public sector database of potential non-executive directors (NEDs) was rejected by the task force spawned by the Higgs
review and led by the dean of the London Business School, Laura D'Andrea Tyson.
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Derek Higgs
New regime will take time to settle down
Derek Higgs, author of the review into the
Role and Effectiveness of Non-executive Directors admitted that his draft
Combined Code was too prescriptive and needed revising.
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Companies
Tesco suffers shareholder disquiet
Supermarket giant, Tesco, suffered a 40% rate of dissension - positive abstain and against votes- to its remuneration report
at its AGM on 13 June.
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US and EU regulation
Bolkestein would like to see mutual recognition
Roel Campos of the Securities and Exchange Commission (SEC) insisted that the SEC had been proactive at accommodating foreign
issuers and non-US firms throughout its history and specifically in respect of the implementation of the Sarbanes-Oxley Act.
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Governance in brief.....
Study shows French have Europe's fat cats
French chief executives on average receive a higher salary, including bonuses - than in the UK. Based on 2001 figures the mean total pay of a French
chief executive was €1,849,899 which compares with €1,546,408 in the UK and €1,374,705 in the Netherlands.
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CSR in brief.....
Morley judges companies' SRI performance
BT (B1), Lloyds TSB (C1), Severn Trent (B1), Scottish Power (D1) and Shell (D1) are the top-ranked companies in this year's sustainability matrix of
FTSE 100 companies produced by Morley Fund Management.
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Conferences
Topical governance and CSR-related conferences.
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July, 2003 |
