Frontrunner in British PM Race May Vows Corporate Governance Reforms

Theresa May, the favorite to succeed David Cameron as British prime minister, will pledge on Monday to overhaul corporate governance rules if elected, including putting workers on company boards and making shareholder votes on pay binding. Cameron said last month he was stepping down after voters rejected his bid to keep Britain in the European Union. Interior minister May is up against junior energy minister Andrea Leadsom in a leadership contest due to be decided by Sept. 9 in a vote by the Conservative Party’s 150,000 grassroots members. “I want to see changes in the way that big business is governed … So if I’m prime minister, we’re going to change that system and we’re going to have not just consumers represented on company boards, but workers as well.”