PARC Discussion
Date:
26th January 2010, 4.00 pm - 8.00 pm
Venue:
The Caledonian Club, 9 Halkin Street, Belgravia, London SW1X 7DB
View a map of the venue location.
Speaker:
Professsor Julian Franks
The Issue:
Whilst a lot of people seem to have their fingers in the governance pie, it seems difficult to pin down ownership. This is a highly topical issue in light of recent events and controversies in the executive remuneration arena. It is now essential to critically consider the roles and responsibilities of the various stakeholders in the governance process including the Board, Remuneration Committee, HR Director and Reward Consultants.
In this session, Professor Julian Franks of London Business School drew on an international perspective, along with a comparison between privately owned and quoted companies, in order to highlight the issues and put them in the context of recent and future governance developments.
Professor Franks’ presentation comprised:
- A study of how ownership affects corporate governance;
- A perspective on what is right and wrong with the UK governance model, including a comparison with the US model;
- A critical review of plc Boards – their roles and their effectiveness.
This helped to frame a highly interactive debate in which we explored the key issues relating to stakeholder roles and responsibilities in the governance process.
Copies of the reports circulated in advance of the meeting for members' pre-reading are available to download from the Knowledge Base:
The Future of Executive Remuneration
The Role of the Board Remuneration Committee: How Remcos function in determining top executive pay (Extract from PARC Research Report, March 2006)
The Role of the Board in Creating a High Performance Organisation (Extract from PARC Research Report 2005)
The post meeting notes and slides are now available to download from the Knowledge Base.