A spokesperson for May said the Prime Minister wants to “tackle corporate irresponsibility and reform capitalism to make sure it works for everyone not just the privileged few”. May’s comments come after a joint inquiry by the work and pensions select committee and the business, innovation and skills select committee found that Green’s family became “incredibly wealthy” during their 15-year ownership of BHS, leaving the retailer and its pension fund weakened to the point of collapse. However, the inquiry also pointed to failures in corporate governance. Shadow business, energy and industrial strategy minister Jon Trickett said what had happened at BHS was partly down to “individual greed” but was also “a failure of weak corporate governance structures”.
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