UK - The NAPF has dismissed a high-profile survey that shows a negative attitude from boardrooms over key elements of the Higgs Review on corporate governance.
The Confederation of British Industry survey of FTSE100 directors found 82% believed the chairman’s role would be undermined if extra powers for a senior non-executive director, including private meetings with shareholders, were enforced.
NAPF spokesman Andy Fleming said: “The intention is to build better lines of communication between shareholders and boards, allowing investors the chance to raise any concerns without placing undue additional burden on executives.
“Investors don’t expect to be involved in the day-to-day running of companies. They just want proper access to the board if they have genuine concerns.”
This view is not held by the CBI.
Director-general Digby Jones said: “Only in special circumstances, when normal channels of communication have broken down, should the senior independent be available privately for shareholders to voice concerns.”
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
This week's top stories were the DWP giving the green light to CDC and TPR granting extensions for 11 master trust authorisation applications.
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The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.