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Business is leading a counter-revolution against corporate reform. John Plender sees a problem for Lord Simon

By John Plender   October 1997

Is british business a victim of excessive accountability? Not if you believe John Kay, who compares corporate democracy in Britain with the sham democratic process that prevailed in communist eastern Europe.

But now we have the Hampel committee on corporate governance leading a counter-revolution against the reformers. In its interim report published in August (timing that arouses suspicion), it says accountability is being emphasised at the expense of efficiency. Who is right?

The answer becomes obvious if you look at the composition of Ronnie Hampel’s committee. Six of the 11 members are from quoted companies. By some unhappy freak of…

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