The UK’s Financial
Reporting Council (FRC) told IFLR that stakeholder engagement
is at the centre of its updated Corporate Governance Code, and
large companies need to think more broadly about how they
engage and consult with their workers.
The updated Corporate
Governance Code for premium listed companies only came into
force at the turn of this year, following concerns about the
behaviour of big business after high-profile cases such as BHS
and Sports Direct. Prime Minister Theresa May made a big public
push at the very start of her premiership for greater
board-level responsibility – but did not change the
law as first promised.
"There is not a
During the Conservative leadership election and in the first
month of her term as prime minister, May pledged a law change
that would force companies to put consumers and workers on
their boards. Since then she has stepped back from such
promises, but Maureen...