Financial Reporting Council Announces Changes to UK Corporate Governance code and urges companies to respond rapidly
The Financial Reporting Council (FRC) today announces its decision to amend the UK Corporate Governance Code to strengthen the principle on boardroom diversity which was first introduced into the Code in June 2010.
The amendments the FRC is announcing today will require listed companies to report annually on their boardroom diversity policy, including gender, and on any measurable objectives that the board has set for implementing the policy and the progress it had made in achieving the objectives. The FRC will also update the Code to include the diversity of the board, including gender, as one of the factors to be considered when evaluating its effectiveness.