Tim Martin’s musings on corporate governance and tick-box culture is typically thought-provoking
Tim Martin at JD Wetherspoon writes some entertaining chairman’s rants and, if you skip the sermons on Brexit, he is reliably thought-provoking. Here’s the latest view from behind the pumps: corporate governance in the UK is “up the spout” and a tick-box culture is sowing seeds of destruction.
As a catch-all statement, the judgment is absurdly severe. If you think governance codes don’t always produce ideal outcomes, look at the abuses that happen in their absence. Nobody, surely, wants to return to the days of three-year rolling contracts for executive directors, signed off by nodding non-executives who routinely stayed so long they became part of the furniture.