Probably the most European of new Conservative Prime Minister Theresa May’s fairly European corporate governance reform proposals is the proposal to have employee/worker representation on the board. It’s a concept unknown outside the European Union, and the United Kingdom is one of the few EU countries that has not yet introduced it.
But the idea was so far off anyone’s governance radar, except for the Trades Union Congress, that the proposal has taken almost everyone else by surprise, including companies, advisers, investors, and proxy advisers.
