US - The parent company of Mercer, Marsh & McLennan Companies (MMC), has proposed an overhaul of the governance structure of its board of directors, seeking an end to the three-class structure and forcing all directors to stand for annual re-election as their existing three-year terms expire.
Stephen Hardis, chairman of the board of directors, MMC, said: "The decision to declassify is the latest step in the board's ongoing effort to implement best corporate governance practices at MMC."
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.