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U.K. corporate governance reforms

Neil Hodge | September 12, 2017

Back in July 2016 when she was campaigning to become leader of the Conservative Party, Theresa May delivered a barnstorming speech in Birmingham that outlined her vision to reform corporate Britain.

May said that the United Kingdom needed “deep economic reform,” which included “getting tough on irresponsible behaviour in big business” and refusing to accept that “anything goes.” Her plans included having workers’ representatives on boards, simplifying bonus structures, checking that incentives are aligned with long-term strategy, making shareholder votes on corporate pay binding rather than advisory, and ensuring full disclosure of bonus targets and outlining the ratio between the CEO’s pay and the average company worker’s pay.

13 months is a long-time in politics, however—particularly for an embattled Prime Minister. When the government published its package of proposed reforms on 29 August, which will come into force in June 2018, the content was decidedly less... To get the full story, subscribe now.