Donald Gordon’s views on the Higgs report on corporate governance are published in The Independent, along with other people’s opinions, both for and against.
The Liberty International chairman says the report gives no primacy to business judgement and he does not think it will work.
He says Liberty would have to replace half its board when it took five years for them to understand the business.
He says once such directors understood the business’s complexities, they would, according to the report, no longer be independent. He says people are of greater value once they have been on the board for 10 years than when they begin.
References: The Independent 19/02/03 page 20
