The Financial Reporting Council (FRC) has
issued guidelines to encourage effective leadership by listed
company boards.
The Guidance on Board Effectiveness
applies to the UK Corporate Governance Code and addresses issues
such as the role of the chairman, senior independent director,
decision making policies and processes, succession planning and
evaluating board and director performance.
The new guidelines reflect the changes that were made to the Corporate Governance Code in
2010, including greater emphasis on the role of the chairman and
the importance of getting the right balance on the board, the FRC
said.
The new guidance replaces the good practice
suggestions from the Higgs report which have been withdrawn by the
FRC.
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