The Financial Reporting Council (FRC) has published new guidance (which replaces the Higgs Guidance) to encourage the boards of listed companies to consider how they can lead their companies most effectively. It forms one of a series of guidance notes issued by the FRC to assist companies in applying the principles of the UK Corporate Governance Code (which replaced the Combined Code from June 2010). It covers the sections of the Code that deal with leadership and the effectiveness of the board and addresses issues such as the roles of the chairman, senior independent director, other directors and the company secretary; decision-making policies and processes; board composition and succession planning; and evaluating the performance of the board and directors.
For further information and a copy of the new guidance click here: http://www.frc.org.uk/press/pub2525.html