UK - Former Gartmore chief Paul Myners has secured his fourth non-executive position with his appointment to the board of retail giant Marks & Spencer.
This follows his appointment as non-executive director of Bank of New York last month.
Myners is also currently a non-executive on the board of British Telecom’s demerged wireless arm mmO2 and non-executive chairman of the the Guardian Media Group.
M&S chairman and chief executive Luc Vandevelde said: “Paul’s considerable experience will complement the diverse talent of the board. He will also add significant authority to our non-executive membership during a very exciting time in the company’s future development.”
Earlier this year the NAPF said it had registered concerns from members that some non-executives were spreading themselves too thinly.
NAPF voting issues service director John Rogers said current feelings were that executives should take on up to a maximum of four company posts.
A corporate governance consultant said: “Four non-executive trusteeships is probably about enough so long as you don’t have any full-time positions.”
The role of non-executive directors was thrust into the spotlight following the collapse of US energy giant Enron after its non-executives failed to blow the whistle on internal accounting malpractices.
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