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from opentuition’s lecture note at page 8 ” . . .not less than one-third of the board comprises NEDs. . .“
from BPP book at page 10 “ . . .NEDs should make up at least half the board. . .“
Which is the appropriate answer?????????????????????????
Thanks.Hi,
when I did P1 it was 1/3rd of the board but now its 1/2 of the board.
The combined code was changed in June this year and is now called “THE UK CORPORATE GOVERNANCE CODE”
From the new code:
B.1.2 Except for smaller companies , at least half the board, excluding the
chairman, should comprise non-executive directors determined by the
board to be independent. A smaller company should have at least two
independent non-executive directors.This can be found here:
I just presume the OT notes have not been updated for this change yet.
Kind regards
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