Independent regulator the Financial Reporting Council has today launched a revised Corporate Governance Code which includes a recommendation that directors of FTSE350 companies be re-elected annually.
Directors will also be obliged to promote the benefits of diversity in new appointments to the board, in order to avoid “group think”. The changes to the Code, which must be adhered to by all listed companies, will become effective for tax years that begin on or after June 29 this year. Introducing the new…
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