In December 2017, the Financial Reporting Council published a consultation on proposed revisions to the UK Corporate Governance Code.
On 17th February 2018, the IoD submitted a response. In our consultation response, we are broadly supportive of the new proposals, which highlight the need for boards to demonstrate effective leadership or “tone from the top”.
We believe that the revised Code’s emphasis on director independence, setting pay in the context of company-wide pay, and highlighting how companies engage with all their stakeholders, will ultimately enhance governance practices in the UK and the Republic of Ireland.