Commenting on the release of the government’s green paper on corporate governance today, Adam Marshall, Director General of the British Chambers of Commerce (BCC), said:
“It’s good to see ministers are listening to a wide variety of business views on the future of corporate governance in the UK, and considering a range of options.
“While there is a real appetite from many firms to see action on the very small number of companies and executives whose actions negatively impact the business community as a whole, there is also concern that heavy-handed regulation could reduce investment or create significant costs for firms.
“Reforms need to be proportionate, and businesses will want reassurances from government that any changes resulting from these proposals will not create additional, costly regulatory burdens for medium-sized and smaller companies.
“There is a strong case for the interests of employees, consumers and crucially, suppliers, to be represented in some way in corporate board discussions. We are pleased that ministers are looking at a number of different options for making this happen.”