Corporate governance ‘a la’ Tim Martin
Pointing out the communist tendencies of a board member at a company which is one of your major shareholders, is a quirk few could get away with, but one that is explained away by Tim Martin’s extravagance.
But beneath the political postulating, the Wetherspoons founder makes a valid point: the UK’s current corporate governance guidance is flawed.
Next time a company chief executive choses to write a sentence like this: “The board gave me a mandate to develop a plan to improve, on a sustainable basis, the group’s commercial and operational performance, in order to deliver better financial results for shareholders over the medium to long term and to develop an execution model that our new CEO, once appointed, can immediately leverage without constraining any potential strategic changes that they may wish to implement.” Or this: “Employee engagement is key to the progress we are making here, and our people are encouraged to share their views and…