2013-10-04
I am researching the new proposed Corporate Governance Code for Credit Institutions and Insurance Undertakings issued by the CBI in August this year.  I am interested in hearing from those who are either in INED roles or from those wanting to become INEDS in the future. The new practises  in this document include a mandatory matrix assessment of current boards to prove individuals suitability for their INED roles. The INED of the future will need to have increasing time for their role, the qualifications to do them, without conflicting interests - are there enough INEDS available to satisfy these requirements? Other proposed changes include the reporting structures within companies - is it realistic that the CRO role would report to the risk committee and the INED's therein rather than the CEO?  These are all very interesting changes if they are adopted.