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Editor's letter - A history lesson from Greenbury.
(From Financial Director)
If you want an executive summary of the Higgs report on the role of non-executive directors, you could do a lot worse than look at the Cadbury report, published in 1992.
The overlap between the two is really quite extraordinary; the main difference is that Higgs took more than 100 pages to say what Cadbury managed in just three.
Cadbury, for example, wanted a "strong, independent element" on the board; Higgs spells out detailed rules about what that means. Cadbury wanted directors to be fully informed and recommended that new directors undertake an induction programme; Higgs spends pages detailing what sort of information they should have and what a proper induction programme would entail.
Regardless of how much the Higgs report may be watered down before being adopted, it has already done a great service. The value is in the very detail that almost perfectly overlays the Cadbury report. So it is helpful for non-execs to be made aware that they should attend meetings with institutional investors to hear their views. It is somewhat less helpful that Higgs ...
- GREENBURY REPORT: Money talks: The chairmen and chief executives of the...
- Newspaper article from: The Independent - London Peter Rodgers July 18, 1995 700+ words
JOHN BAKER Chairman, National Power Aged 57. Recently stepped down as chief executive. Salary: pounds 484,300 (as chief executive) pounds 180,000 (as chairman) "We believe that our remuneration practices are broadly in line with the report. We will be reviewing our practices and policies and
- Electricity Association responds to Greenbury report. (UK)
- Magazine article from: Energy Report July 1, 1995 700+ words
The following statement has been issued by the electricity industry trade body, the Electricity Association, in response to the Greenbury committee's report: "Although the findings have yet to be studied in depth by our member companies, the Electricity Association is broadly supportive of the
- The Higgs Report.(a discussion of Derek Higgs' 'Review of the role and...
- News wire article from: Mondaq Business Briefing February 6, 2003 700+ words
The Higgs Report on Non-Executive Directors and the Smith Report on Audit Committees...committees, will have a major impact on all UK listed companies. The Higgs Report The Higgs Report can be obtained from www.dti.gov.uk/cld/non_exec...
- Northern focus: Corporate Governance; Chartered Accountants in Northern Ireland...
- Magazine article from: Accountancy Ireland Canniffe, Mary April 1, 2003 700+ words
...Ireland Mr Douglas Nisbet agrees that the Higgs Report recommendations were "very sensible...he explained. Welcoming the recent Higgs Report, Mr Nisbet comments that many of the...challenge and supervise management, the Higgs report has made valuable recommendations...
- Higgs Report.
- Magazine article from: Accountancy Age May 1, 2008 700+ words
Byline: Rachael Singh Web Sight: Higgs report Sir Derek Higgs, who died this week, was best known for...addressing following the collapse of Enron and WorldCom. The Higgs report suggested a series of proposals, one of which was that the...
- Higgs report 'drives up liability cover'.
- Newspaper article from: Financial News January 22, 2003 700+ words
...are set to rise further because of the ramifications of the Higgs report, brokers claim.David Howden, chief executive of Lloyd...Howden, believes that the added responsibilities that the Higgs report gives boards will mean that non-executives will have to...
- Redraft of HIggs report to be approved.
- Newspaper article from: Financial News July 20, 2003 700+ words
...Margareta Pagano The three most contentious proposals in the Higgs report on UK corporate governance are set to be approved this week...bodies, that emerged within weeks of the publication of the Higgs report in January. Among the most critical were the Institute of...
- Relief for bosses as the Higgs Report is fine-tuned.
- Newspaper article from: The Evening Standard (London, England) Rossiter, James July 23, 2003 700+ words
...writes James Rossiter. The proposal, put forward in the Higgs Report in January, could have sparked off a massive headhunting...back on recommended changes to the code contained in the Higgs Report and an audit committee report from Sir Robert Smith. The...
