by Alison Smith for The Financial Times
The UK’s biggest public companies are increasingly ready to say goodbye to long-serving directors.
The number of non-execs who have been in the post for more than nine years at FTSE 100 groups has dropped by more than a quarter since February. Analysis by the Financial Times shows that the total is 73, against the 97 identified in a report by Cranfield School of Management earlier this year.
Nine years as a non-executive is a critical period in corporate governance terms, since after that point the UK code says non-execs can no longer be assumed to be independent of the company. Read more here.