by Adam Brown for IR Magazine
Independence of chairman and directors in France and Spain is among lowest in Europe, according to ECGS
Boards of directors of European companies have ‘satisfactory’ levels of independence but fewer than half of board chairmen meet common standards of independence, according to a study by the Expert Corporate Governance Service (ECGS).
ECGS, which offers corporate governance research and proxy voting advice to institutional investors, says in its annual report that an average of 52 percent of directors at European publicly traded companies can be considered independent. The level is just above its recommendation of a minimum of 50 percent. Read more here.