UK: Grant Thornton's 2012 corporate governance review

At the end of last month Grant Thornton published the 2012 edition of its annual corporate governance review: see here (pdf). It is noted that just over a half of all FTSE350 companies complied fully with the UK Corporate Governance Code (board and committee composition was the main area of non-compliance). Other findings: more non-financial companies are choosing to have a risk committee; average auditor tenure is 33 years; a quarter of chairmen gave no insight into board governance practices; over 95% of companies introduced the annual re-election of directors.