UK - PIRC will urge the government to make radical reforms to the non-executive role to ease boardroom tensions.
PIRC is preparing its response to the Higgs enquiry – the DTI’s probe into the role of the non-executive director.
PIRC managing director Allan MacDougall said the tensions within many company boards were “inherently unreconcilable” and there was a strong case for radical thinking from the government on board structure and membership.
MacDougall said: “We should be questioning whether trying to combine supervisory, advisory and executive functions in one body is tenable.
After all, the separation of ‘non-executive’ supervisory functions from day-to-day management is the norm in the voluntary sector.”
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.