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New U.K. PM hints at governance reforms

Neil Hodge | August 3, 2016

Worker representation on boards and curbs on executive pay are just two of the items on the agenda for another round of possible corporate governance changes as U.K. companies come under fire yet again for failing to live up to the spirit of earlier reforms.

In a speech as part of her leadership campaign to become the United Kingdom’s second female Prime Minister, Theresa May said that the country needed “deep economic reform,” which includes “getting tough on irresponsible behaviour in big business” and refusing to accept that “anything goes.”

She also said that workers need to have a more vocal stake in the running of the companies they work for and that the state could take a more strident role in protecting U.K. companies from being snapped up by foreign buyers.  

“Transient shareholders—who are mostly companies investing other people’s money—are not the only people with an interest when firms are sold or close,” she said in her address in Birmingham on 11...

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