Wednesday, January 03, 2007

Boardroom reformer enjoys sound of silence

The publication of the Higgs report on corporate governance almost four years ago led to what its author now describes, with characteristic understatement, as “a spirited debate”.

Critics – some of them leading figures in British business – argued its recommendations would divide executive directors from non-executives, undermine the chairman’s role and substitute box-ticking for balanced judgment.

Today, Sir Derek Higgs says, such fears are acknowledged to have been greatly exaggerated. Far from damaging public companies, his reforms have won wide acceptance, are increasingly studied in other countries and are likely to prove attractive to private equity.

Boardroom reformer enjoys sound of silence

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