UK companies are not investing. Laurie Fitzjohn-Sykes argues that governance structures are too focused on risk aversion rather than entrepreneurial leadership.
It is now 25 years since Tiny Rowland described non-executive directors as baubles on a Christmas tree, but how much progress have we made? Are they the independent stewards of long-term successful companies, or ineffective appendages, or worse, a damaging influence on management?
There has been no shortage of corporate governance reforms since then, starting with Cadbury, to Greenbury, Higgs, and Walker, amongst others.
This has led to progress in many areas. However, one problem is that reforms have followed scandals and therefore have been focused on preventing the same scandal happening again, rather than supporting long-term growth.
Public procurement is too often solely made on price, and not enough on true value and to account for areas...
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We need a social contract that is fair, so that everyone has the chance to progress.
Joining Russell Goldsmith at the London offices of GSK to discuss this issue, were Kerry O'Callaghan, VP for Global Brand...
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