The Wates Corporate Governance Principles, published by the UK Financial Reporting Council (FRC), could be the catalyst for a change in how privately-owned family businesses approach corporate governance.
Read MoreNon-Executive Directors (NEDs) can add value to a family enterprise in several ways. They bring outside experience and independent judgement to bear in major matters requiring board decisions. They can act as a link between the board and the shareholders, provide the benefit of their personal contacts and help to ensure that the overall governance of the family enterprise operates effectively.
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