Government takes up the plight of Uyghur Muslims The UK government is introducing new rules to prevent the import of goods suspected of using forced labour in China’s Xinjiang province. Foreign secretary Dominic Raab told the House of Commons on Tuesday that companies would have to make sure their supply chains are free from forced […]
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Reform is an “urgent priority”, says accountancy body chief The accounting industry is urging the government to prioritise reform of the sector following the appointment of Kwasi Kwarteng as business secretary. Michael Izza, chief executive of the Institute of Chartered Accountants in England and Wales (ICAEW), said Kwarteng needed to make reform of corporate governance […]
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Companies could be delisted if they fail to meet ‘comply or explain’ requirement The Council of Institutional Investors (CII) has thrown its weight behind Nasdaq’s proposal that would require companies to disclose board diversity or potentially face delisting. In a letter filed with the Securities Exchange Commission on 30 December, the non-profit association of US […]
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Lost Votes – concern mounts over corporate governance in Japan Corporate governance has come under the spotlight in Japan after one of its biggest providers of shareholder services said it may have miscounted investor votes at almost 1,000 companies ahead of annual general meetings (AGMs). Sumitomo Mitsui Trust Bank, which is entrusted to count votes […]
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CEO stakeholder commitments illusory claim Harvard duo Research conducted by two renowned Harvard academics has cast doubt on the commitments made a year ago by 181 CEOs affiliated to the Business Roundtable trade group. Twelve months ago, business leaders at some of the world’s biggest companies pledged that they would consider the interests of all […]
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UK commits to new accounting watchdog, despite delays The UK government has pledged to push ahead with a new authority to oversee corporate governance standards, following criticism from a top business committee over its inaction to date. In an open letter to the Business, Energy and Industrial Strategy (BEIS) committee, the government promised to push […]
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US business lobbies press for laws on boardroom diversity A group of US business associations has called on the Senate to ratify legislation on boardroom diversity that was passed by the other chamber last year. In an open letter to Mike Crapo, chairman of the committee on banking, housing, and Sherrod Brown, the committee’s ranking […]
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Greek companies will soon be mandated to meet a 25% female quota on their boards following a landmark decision for gender diversity. The quota requirement has been included as an amendment to the bill transposing the EU Shareholder Rights Directive II (SRD II) into Greek law, and is the result of a consultation led by […]
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Corporate governance stakes centre stage in US/China face off
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Boardroom woes sees more departures from EasyJet Further turmoil has gripped budget airline EasyJet after two board members announced their departure amid the ongoing bitter row between the leadership team and founder Stelios Haji-Ioannou over a plane order. EasyJet ordered more than 100 aircraft worth £4.5billion from Airbus in 2013, which chief executive Johan Lundgren […]
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