The 2024 UK Corporate Governance Code is live!

And we have the answer to help you comply!

It is exciting to welcome a new Code with the hope of positive changes, improved governance and accountability. The 2024 Code will come into force for financial years beginning on or after 1 January 2025 with the exception of provision 29.

The changes to section 3 - composition, succession and evaluation, principle J and section 23 is particularly welcomed by the team at Governance Geek.

As huge supporters of diverse boards who are appropriately skilled, demonstrate cognitive diversity and represent diverse communities of experience, obtained from different backgrounds and life experiences, we completely understand the need for effective, successful, and profitable leadership that only diversity as a whole can bring.

We are delighted to say that our Board Skills Analysis provides metrics for companies so that they can comply, monitor and explain how they are achieving their strategy through outcomes relating to areas such as board reviews, recruitment, succession, diversity, inclusion, skill and performance.

Seeing how boards are utilising the Board Skills Analysis to support their annual reviews of the board as a collective and for individual board members gives us the confidence that companies who need to comply with the 2024 Code or who are actively looking to improve their governance will find ‘complying and explaining’ key areas of the code easy with the help of the Board Skills Analysis report.

As an essential tool of all Chair’s entering into appraisals season with individual board members we encourage you to get in touch and see how we can support you with your good governance.

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