Baroness Wheatcroft and other distinguished executives to lead discussion on most challenging questions facing global boards and their governance practices
Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, and Independent Audit Limited, the top UK specialist board and governance consultancy, today announced that they will host the second in a series of board-level events that provide CEOs, chairmen and non-executive directors with a forum to discuss some of the most challenging issues regarding effective board governance today.
The invitation-only event Is Corporate Governance a Dangerous Distraction? will take place at Clothworkers’ Hall in the City London under Chatham House Rule.
The distinguished panel leading the evening’s discussion is comprised of: Baroness Wheatcroft, well-known business journalist and non-executive director of Fiat and St James’s Place; Glen Moreno, chairman of Pearson and deputy chairman of the Financial Reporting Council; Lord McFall, current member of the House of Lords Economic Affairs Committee and former chairman of the Treasury Select Committee; and Ian Armitage, former chairman of private equity firm HgCapital.
The panel and discussion will examine whether governance is little more than a remedy for what is a systemically flawed approach to oversight and has resulted in it becoming a distraction from what’s really needed. It will look to answer specific questions such as whether corporate governance gives misplaced confidence that management are really being held accountable, ways to achieve alignment between executive and shareholder interests, as well as the value of relying on non-executives when looking at corporate governance and risk.
“Experience of Board practice around the world shows that an inherent tension exists between box ticking and behaviour management,” said Ken Olisa, chairman, Independent Audit Limited, and non-executive director, Thomson Reuters. “Corporate Governance codes – at least in the UK – are meant to support the latter and not the former. I look forward to our distinguished panel’s examination of the degree to which this lofty ambition is borne out in reality.”
“Economic uncertainty, increased regulatory requirements and greater regulatory scrutiny are making the environment for corporate governance ever more complex,” said Mark Schlageter, managing director, Governance, Risk & Compliance, Thomson Reuters. “The demands and responsibilities being placed on the Board of Directors relating to accountability and transparency are becoming increasingly difficult to navigate. Events like this provide the perfect forum for board members to come together, discuss the challenging issues they face, and the solutions that can help them have visibility into the entire risk picture across their organizations. We feel very privileged to be co-hosting this important board-level event again.”