Appointment and re-election of directors—UK listed companies—corporate governance aspects
Produced in partnership with Advanced Boardroom Excellence
Appointment and re-election of directors—UK listed companies—corporate governance aspects

The following Corporate guidance note Produced in partnership with Advanced Boardroom Excellence provides comprehensive and up to date legal information covering:

  • Appointment and re-election of directors—UK listed companies—corporate governance aspects
  • UKCG Code provisions on directors' appointments
  • The nomination committee
  • Succession planning
  • Diversity
  • Non-executive directors
  • Listed company directors—appointment process
  • Key appointment criteria
  • Directors' due diligence
  • Induction, development and information
  • more

The UK Corporate Governance Code (UKCG Code) of the Financial Reporting Council (FRC) sets out standards of good governance in relation to board appointments and succession planning.

In July 2018, the FRC published a revised version of the UKCG Code, which applies to premium listed companies with accounting periods beginning on or after 1 January 2019 (although companies may choose to comply with some or all of the provisions before this date). The FRC also published an updated Guidance on Board Effectiveness, which replaces the 2011 version.

Companies with accounting periods beginning before 1 January 2019 may continue to report against the 2016 version of the UKCG Code.

The FRC’s feedback statement on the December 2017 UKCG Code consultation includes a destinations table showing where principles and provisions from the 2016 version of the UKCG Code have been incorporated into the 2018 versions of the UKCG Code and FRC Guidance on Board Effectiveness. The destinations table also shows were a provision from the 2016 version of the UKCG Code has been deleted.

The UKCG Code applies, on a comply or explain basis, to all UK and overseas companies with a premium listing of equity shares in the UK. See Resource Notes: 2016 UK Corporate Governance Code—Comply or Explain and 2018 UK Corporate Governance Code—Introduction.

For general information on the application, purpose and provisions of the UKCG