The FT is reporting that the number of directors has dropped by 20% since the new code of corporate governance came into force according to a recent Deloitte Report. I am happy with this. When you are talking about corporate governance, then it is always better to have lesser number of directors but more qualified, more understanding of the risks and far greater appreciation of management / corporate governance.
Also, the Director's salaries have gone up, again reflecting proper economics of supply and demand. You get paid for what you do, that is to take risk!. But for director insurance, that's another debate.
I have been working with my old friend, Professor Christian DeCock over the summer on a corporate governance research topic and one of the things which came out of that study (not released yet) was that we need to tighten up and at the same time, rethink how we govern our companies given the changes in financial markets and technology.
All this to be taken with a grain of piquant salt!!!
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