In March 2011 the FRC published guidance on board effectiveness to encourage the boards of listed companies to consider how they can lead their companies most effectively. This guidance replaced the 2006 publication 'Suggestions for good practice from the Higgs Report'.
The guidance
FRC Guidance on board effectiveness
Guidance published by the FRC on 3 March 2011 'to assist companies in applying the principles of the UK Corporate Governance Code', as announced in the press release Financial Reporting Council publishes New Guidance on Board Effectiveness. The guidance 'relates to the sections of the Code that deal with leadership and the effectiveness of the board.'
Background
The previous version of the guidance was entitled Suggestions for good practice from the Higgs Report (PDF 217kb/25 pages) and was published by the FRC in 2006.
Useful links
Report on board effectiveness: Highlighting best practice, encouraging progress (ABI, pdf 52pages/916kb)
In September 2011 the Association of British Insurers (ABI) published its report on board effectiveness as announced in the press release UK boardrooms given clear guidance on executive pay and effective performance. The report focuses on the three key issues of boardroom diversity, succession planning and board evaluation and aims to 'help companies to better understand the views of institutional investors on effective boardroom performance'.
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