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Theresa May's Proposed Corporate Governance "Reforms": Please Stay in England

By Randi Morrison posted 07-29-2016 07:51 AM

  

 

This recent post from Society member Bob Lamm, Co-Chair of Gunster's Securities and Corporate Governance Practice, does a great job of prompting a smile (at a minimum) on what appears to be a potentially significant and unpleasant (at best) overhaul of certain core governance practices in the UK.

The seemingly-imminent so-called "reforms" were triggered by Theresa May's prompt ascendancy to the Prime Minister post upon David Cameron's recent resignation following the Brexit vote, and May's vows to make boards more accountable to outsiders and to get "tough on corporate irresponsibility."

While I hope it's not the case here, based on history as well as the current macro-environment, it's not at all unreasonable to be concerned about whether proposed UK governance initiatives might float "across the pond" and - if so - which ones and in what form. 

See also this piece from The Telegraph: "Sorry Mrs May, but employee-directors could damage our best boardrooms" and an abundance of memos, websites, blogs and other resources on our Brexit topical page.

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