First Flight’s MD Chris Spencer-Phillips has long advocated the need for UK businesses to bring in fresh, diverse Non Execs with specific skills who can really add value to a company’s Board and it is good to hear our Prime Minister endorsing the need for Non Execs to not be drawn from the same, narrow social and professional circles.
Our new Prime Minister Theresa May in her first statement said some very interesting things about Corporate Governance and relative to our business Non Execs – this is what she said:
"....and I want to see changes in the way that big business is governed. The people who run big businesses are supposed to be accountable to outsiders, to Non-Executive Directors, who are supposed to ask the difficult questions, think about the long-term and defend the interests of shareholders. In practice, they are drawn from the same, narrow social and professional circles as the executive team and – as we have seen time and time again – the scrutiny they provide is just not good enough. So if I’m Prime Minister, we’re going to change that system – and we’re going to have not just consumers represented on company boards, but employees as well."
