The Purposeful Company

In a report released in May by the Big Innovation Centre, the group takes the controversial position that the United Kingdom should make some shareowner rights and corporate governance changes that some may view as rolling back shareowner protections. The report posits that the current UK system is fragmented with a diversified shareholder base, a particular legal and regulatory system that imposes short-term profit maximization on company boards, and too few forces that counteract these tendencies. The Big Innovation Centre states that the launch of the report marks the start of a major consultation on options for change. These encompass corporate law, corporate governance, executive remuneration, equity ownership, shareholder engagement, disclosure, accounting practice, and taxation.