BBC article - Bank bonuses should be more closely controlled and Non-Executive Directors should spend more time on their Non Exec roles and be better paid & better trained, according to a Government commissioned report.
Sir David Walker's review of Corporate Governance recommends changes to the way Non Execs operate; some findings are:
1. "Non Execs should play a greater role in Board level decisions"
2. "Non Execs should be ready, able and encouraged to challenge and test the proposals on strategy put forward by the Executive"
3. "Non Execs should be expected to give a greater time commitment than has been normal in the past - it should increase to between 30 to 36 days pa minimum"
4. "Boards need to be less friendly, cosy, easy environments"
5. "Non Execs should be paid more and have fewer roles"
To see the full report, click here:
http://news.bbc.co.uk/1/hi/business/8152587.stm