Whilst most Non Execs know about the FRC and QCA Corporate Governance Codes for public companies, not so many have heard of the Wates Principles for corporate governance in larger private companies. William Micklethwait, a Search Consultant at First Flight, participated in a Governance Interest Group discussion alongside Chairmen, Non-Executive Directors and Company Secretaries in private companies, about the Wates Principles and whether they could be applied to smaller private companies, and the differences in corporate governance needed for family companies, management-owned companies and private companies backed by VC and PE firms….
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