16 July 2018

  |  CBI Press Team

Update

Our response to the FRC's revised UK Corporate Governance Code

The CBI has responded to the FRC’s revised UK Corporate Governance Code which seeks to strengthen the UK’s high levels of corporate governance reporting.

Our response to the FRC's revised UK Corporate Governance Code

Matthew Fell, CBI UK Chief Policy Director, said:

“The Corporate Governance Code plays a vital role in ensuring companies are well run and clear about the behaviours expected of them. With the spotlight on the role business plays in society, it is important the Code continues to evolve to meet changing expectations and maintain high standards.

“Companies should define their most important stakeholders – which will often be employees – and then set out how they choose to engage with them to take their views into account. It is helpful to see this new emphasis by the FRC.

"The clarifications on the interpretation of tenure and independence, particularly around the role of the Chair, are welcome so that they do not rule out people who have a significant contribution to make."