HomeBusinessTwo-thirds of FTSE 350 companies ignore governance rules

Two-thirds of FTSE 350 companies ignore governance rules


Figures show nearly two-thirds of FTSE 350 companies riding roughshod over UK good governance guidelines


Nearly two-thirds of FTSE 350 companies are riding roughshod over UK good governance guidelines, figures show. 

Top dogs at 30 per cent of firms are receiving bumper pension contributions worth as much as five times the rate of ordinary employees. 

Breach: Bosses at 30 per cent of firms are receiving bumper pension contributions worth as much as five times the rate of ordinary employees

This was the most common breach of the UK Corporate Governance Code, which states that contributions should be in line with the workforce, according to the figures from Reuters. 

And around a fifth of companies have had a chairman in place for nine or more years – beyond the maximum length stipulated in the advice, which says that the longer their tenure the less independent they will be able to be. 

Firms can choose whether to comply with the code, which has 41 principles. If they do not, they must lay out why.

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