James Wates Appointed Chair of Corporate Governance Steering Group
30th January 2018
The Government has announced that James Wates, chairman of the UK’s largest construction family business Wates Group, will be chairing the new industry group responsible for developing new corporate governance guidelines for large private companies. The group, established as part of the government’s Corporate Governance proposals, includes representatives from the IFB, Financial Reporting Council (FRC), IOD, CBI, BVCA and TUC.
Speaking about his appointment James Wates CBE said:
“I am delighted to have been asked to chair this very important piece of work. I feel passionately that good business, well done, can be a force for good in society. I hope that the standards produced through this effort will help promote and enable ever-stronger and more consistent corporate governance amongst large private companies, which generate significant value for the UK economy and society.”
IFB Executive Director Elizabeth Bagger welcomed the appointment, saying:
“We are delighted by the appointment of James Wates as the Chair of the industry group developing new corporate governance principles for large private companies. James has demonstrated a strong commitment to promoting the understanding and implementation of good governance throughout his career. He will add tremendous value to the group and we look forward to be working with him.”
James will work with industry group to draw up the UK’s first-ever set of guiding principles for large private companies. The voluntary principles will help to ensure that all large private companies embed good governance practices.
You can find the letter from the Secretary of State for Business, Energy and Industrial Strategy to the IFB here.