Companies could adopt principles from the UK Governance Code of 2010
By Hicbd
Sun Jan 12 2014 2:20 pm
The "Code" outlines specific practices to ensure good corporate governance such as:
"- the CEO and Chairman of companies should be separated
- boards should have at least three non-executive directors, two of whom should have no financial or personal ties to executives
- each board should have an audit committee composed of non-executive directors
- each board should have a remuneration committee composed without executive directors, but possibly the chairman
- directors should have long term performance related pay, which should be disclosed in the company accounts and contracts renewable each year
- the Chairman of the board should be seen as the "leader" of the non-executive directors
- institutional investors should consider voting the shares they held at meetings, though rejected compulsory voting
- all kinds of remuneration including pensions should be disclosed."
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