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CBI advises EU to alter corporate governance guidance

Date Added: 06/04/2011  

The EU has been advised to revamp its approach to enhancing levels of equality in corporate boardrooms in order to make policies more attainable for companies.

According to Matthew Fell, the Confederation of British Industry's director of competitive markets, policymakers should be looking to implement a system whereby dialogue between boards and shareholders is improved through a "comply or explain approach, not rules-based box ticking".

Mr Fell - who was speaking following the publication of the EU's Corporate Governance Green Paper - noted that while there is definitely a "strong business case" for greater diversity in boardrooms, this would be best achieved by firms being able to set targets and then reporting against them "rather than by enforced quotas".

This follows on from John Walker of the Federation of Small Businesses recently urging the government to be stronger in pushing for changes to the way the EU implements amendments to the UK business sector.

Posted by Miles Pritchard

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