The Changing Role of the Chairman: Impact of Corporate Governance Reform in the UK 1995 - 2005 on Role, Board Composition and Appointment

European Business Organization Law Review (EBOR), Vol. 9, No. 2, pp. 187-213, June 2008

53 Pages Posted: 29 Aug 2006 Last revised: 21 Jul 2008

See all articles by Tom Kirchmaier

Tom Kirchmaier

London School of Economics - Centre for Economic Performance; Copenhagen Business School

Geoffrey Owen

London School of Economics & Political Science (LSE) - Interdisciplinary Institute of Management

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).

Keywords: Chairman, Board, UK

JEL Classification: G30, G34, G38, M10

Suggested Citation

Kirchmaier, Tom and Owen, Geoffrey, The Changing Role of the Chairman: Impact of Corporate Governance Reform in the UK 1995 - 2005 on Role, Board Composition and Appointment. Available at SSRN: https://ssrn.com/abstract=927233

Tom Kirchmaier (Contact Author)

London School of Economics - Centre for Economic Performance ( email )

Houghton Street
London, WC2A 2AE
United Kingdom
+44 207 955 6854 (Phone)

HOME PAGE: http://https://sites.google.com/site/tomkirchmaier/home

Copenhagen Business School ( email )

Porcelænshaven 24A, 3rd floor
Copenhagen
Denmark

Geoffrey Owen

London School of Economics & Political Science (LSE) - Interdisciplinary Institute of Management ( email )

Houghton Street
London, WC2A 2AE
United Kingdom

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