Judgement & Discretion – The Chair & The Code

The Corporate Governance Code is a critical framework for the Chair in providing leadership to the Board and the company. Judgement and discretion are required in its application.

Boilerplates & Governance

Through our work with Boards Fidelio sees that the majority of Chairs fully recognise the increasing demands and complexity of the role and are putting considerable effort into greater effectiveness and governance. A recently published review in the UK of compliance with the UK Corporate Governance Code indicates, however, that the regulator wants much greater insight into how Boards are exercising judgement and working through the complex challenges and trade-offs currently on the Board Agenda.

Looking ahead to 2021 Fidelio expects this focus on the work of the Board and the voice of the Board to increase, in particular in the context of Section 172(1) reporting and ESG. We will continue to support Chairs in navigating complexity, as well as building trust in the decisions that the Board is taking.

In this Overture we review the UK Financial Reporting Council’s recently published Review of Corporate Governance Reporting and its implications for Chairs in the UK and internationally.

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