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The Changing Role of the Chairman: Impact of Corporate Governance Reform in the UK 1995 - 2005 on Role, Board Composition and AppointmentTom KirchmaierUniversity of Manchester - Manchester Business School; London School of Economics & Political Science (LSE) - Financial Markets Group (FMG) Geoffrey OwenLondon School of Economics & Political Science (LSE) - Interdisciplinary Institute of Management European Business Organization Law Review (EBOR), Vol. 9, No. 2, pp. 187-213, June 2008 Abstract: While the corporate governance reforms of the past decade have improved the quality of UK boards - greater professionalism on the part of outside directors, more focus on strategy issues, greater awareness of risk - the role of the chairman has in some respects become more challenging. The chairman who is not also chief executive - and the division of these two roles is now well established in most quoted companies - has to balance and manage two potentially awkward relationships, with the chief executive and with the other non-executive directors. At the same time, he or she has to ensure that the board contains an appropriate mix of skills, personalities and experience, and that it works together as a team. Parts of this paper appear in: European Business Organization Law Review (EBOR), Vol. 9, No. 2, June 2008).
Number of Pages in PDF File: 53 Keywords: Chairman, Board, UK JEL Classification: G30, G34, G38, M10 Accepted Paper SeriesDate posted: August 29, 2006 ; Last revised: July 21, 2008Suggested CitationContact Information
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