Posts Tagged 'Dina Medland'

UK’s Top Boardrooms Look Set To Hit 25% Women Target

by Dina Medland for Forbes

Women now make up 23.5% of non-executive director positions on the boards of Britain’s top FTSE 100 listed companies. Just 17 more female appointments to these boards are needed to reach the 25% female target by end-2015 set by Lord Davies of Abersoch four years ago in his review for the UK government on the under-representation of women on boards.

“The rate of change that we have seen in FTSE 100 companies over the last four years has been remarkable. The voluntary approach is working, boards are getting fixed” Lord Davies will say at the launch of his report in London today.

“FTSE 100 boards have made enormous progress in the last four years, almost doubling female representation to just shy of 25 per cent.  We must celebrate this outstanding achievement and the change in culture that is taking hold at the heart of British business. The evidence is irrefutable: boards with a healthy female representation outperform their male-dominated rivals” Vince Cable, the UK Business Secretary who commissioned the Davies Review, will say today.

The authors of the Female FTSE Board Report 2015 who include Professor Susan Vinnicombe CBE, Dr Ruth Sealy and Dr Elena Doldor of Cranfield University’s School of Management –  say that if the appointment rate of one woman to every two men appointed is sustained over the coming months, the 25% target should indeed be met before the end of this year.

‘Corporate Governance Is The Very Essence Of A Business’: Stephen Green

By Dina Medland for Forbes

It can take at least 24 hours for the enormity of a corporate governance scandal to be fully comprehended. But it should never take eight to ten years for it to be revealed.

The UK’s corporate governance code balances on the workability of ‘comply or explain.’ It sets standards for corporate behaviour, and seeks to encourage best practice, exhorting business to ‘tone from the top’, via its boardrooms. But what happens when boardrooms shroud themselves in complexity and when it comes to the moment of reckoning, the inhabitants have moved up and out?

Evidence that the Swiss private bank of HSBC, the world’s second largest bank, helped clients conceal undeclared accounts and provided services to criminals and corrupt businessmen is still reverberating around the world. On Twitter TWTR -1.82% you can take your pick from #HSBCLeaks, #SwissLeaks or #HSBCFiles.

Those files were obtained through an international collaboration of news outlets, including The Guardian, the French daily Le Monde, BBC’s Panorama program and the Washington-based International Consortium of Investigative Journalists. This was not the result of a regulator at work, but an uncovering  precipitated by a whistleblower, Herve Falciani. Read more here.

UK Watchdog To Focus On Company Culture And Behaviour

by Dina Medland for Forbes

When company culture and behaviour rise to the top of the agenda for scrutiny by the watchdogs of corporate governance is it time for a celebration? One could be forgiven for thinking we might be getting somewhere in the struggle to align regulation with ‘best practice’ for business, rather than mere ‘box-ticking’ for compliance.

In the UK, the annual review of developments in corporate governance and stewardship for 2014 by the Financial Reporting Council (FRC), is just out. It has a strong focus on the importance of good culture within organisations.

“The governance of individual companies depends crucially on the culture that is in place. The UK’s strong governance culture encourages companies to list in London and provides assurance to investors. Unfortunately, we still see examples of governance failings in this area. Boards have responsibility for shaping the culture, both within the boardroom and across the organisation as a whole. This requires constant vigilance” says Sir Win Bischoff, FRC Chairman. Read more here.

‘Protecting Long-Term Interests Of Stakeholders Is Fiduciary Duty’

by Dina Medland for Forbes

“Until recently there have been two separate worlds. There are experts in the fields of corporate governance, those who focus on compensation and other boardroom issues – and there has been the sustainability universe, which includes investors. Now we are beginning to see a convergence” says Bob Eccles, Professor of Management Practice at Harvard Business School.

It’s an early start for him today in New York as the UN Global Compact begins the day by imagining the #FutureCorporation at its Global Compact LEAD symposium on a live stream. It is the launch of an innovative program for company boards and a bid to bring different worlds together. Read more here.

Corporate Sustainability Is Corporate Excellence

by Dina Medland for Forbes

Erika Karp, CEO of Cornerstone Capital, uses ‘corporate sustainability’ and ‘corporate excellence’ interchangeably.

She is not alone, as her view that sustainability “should be core to the business, and not in a corner” continues to gain credence among investors and in corporate boardrooms.

In Rome this week she has been working in consultation with BCG and the UN Global Compact on workshop sessions for boards and CEOs on accelerating and implementing corporate sustainability. A former UBSbanker – she was head of global sector research there and is a founding board member of the Sustainability Accounting Standards Board (SASB) – Ms Karp founded the predominantly female-owned Cornerstone last year on a mission “to finance global prosperity.” Read more here.

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