Dominic Barton has been appointed chair of the International Integrated Reporting Council (IIRC). Barton was formerly the senior partner and global managing partner at McKinsey & Company from 2009-2018.
IIRC’S mission is to primarily make integrated reporting the normalcy within the accounting sphere and hoping to drive that transition is Barton. He will also be focusing on the shift to long-term investment and the future of capitalism as well as examining existing business strategies.
Barton commented: “I believe that through the adoption of integrated reporting internationally we can make real changes to the way businesses and our markets as a whole function. We can ensure that business is working for society, for the planet and for all the stakeholders.
“That is why the first decision I made when stepping down from the global managing partner role at McKinsey was to join the IIRC as its council chair and I look forward to working with the team, as we launch the new momentum phase.”
Barton will take over from Mervyn King, who will continue to undertake global advocacy for integrated reporting as chair emeritus of the council.
IIRC’s CEO Richard Howitt said: “Dominic’s appointment is a sure sign of the momentum which integrated reporting continues to build across the world. As one of the world’s leading proponents for long-termism and inclusive capitalism, I am delighted that Dominic Barton will be working with us to drive that momentum towards integrated reporting globally as Chair of the IIRC Council.”
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Unilever’s CEO Paul Polman, an advocate of integrated reporting commented on the appointment: “Successfully operating a business requires understanding the human, natural and social input which create value. Integrated reporting helps us to identify risks and opportunities and build a sustainable business model.”
BlackRock’s CEO Larry Fink said: “Dominic has been one of the business community’s strongest advocates for long-term thinking, and I can’t think of a better individual to chair the IIRC.”
‘The Momentum Phase’
A meeting chaired by Barton in Paris the same day his appointment was announced saw the launch of a global strategic phase.
The name given to the strategy, ‘the momentum phase,’ will include advancing integrated thinking as part of corporate governance reform, facilitating alignment in the corporate reporting system and accelerating adoption in the US and China.