8th Annual Conference of the ESADE Alumni Directors' Club
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At ESADE, Carlos San Basilio previewed the main lines of the new Good Governance Code, then in its final stage before public consultation. The text will be 46% shorter, with 7 fewer principles and 12 fewer recommendations, and presents good governance as a competitiveness factor rather than a burden.
Key points
- Stronger role for independent directors, the lead independent director and the balance of power on the board.
- Sustainability as a cross-cutting theme and pioneering recommendations on digitalisation, cybersecurity and AI.
- Practices removed from the Code could be reinstated if compliance slips; the aim is to have the new Code in early 2027.
Who is affected
Boards of listed companies and investors.
Deadlines
New Code expected in early 2027.
Plain-language version
The head of the CNMV, Spain's market watchdog, previewed the new governance code for listed companies: 46% shorter and with fewer recommendations. The idea is that good governance should help companies compete, not weigh them down. The new code is expected in early 2027.
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