Corporate Governance

Part of Business, Energy and Industrial Strategy – in the House of Commons at 12:00 am on 12th September 2017.

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Photo of Greg Clark Greg Clark The Secretary of State for Business, Energy and Industrial Strategy 12:00 am, 12th September 2017

We consulted widely on the Green Paper, and the set of reforms that we are making has enjoyed broad support. We are proposing to extend the holding periods for long-term share incentives from three years to five years. I think the hon. Lady played some part in the introduction of the three-year periods, and I hope that she will welcome the extension. We are also making it a more explicit requirement of boards, including boards of directors, to reflect in their reports and accounts what they are doing for a wider range of stakeholders, not just the short-term issues. I hope the hon. Lady will welcome that as well.