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SLI's Skeoch argues against Cable's corporate plans



Chief executive of Standard Life Investments Keith Skeoch has retaliated after business secretary Vince Cable announced a review of how companies in the financial sector are run, such as how management buy ins and buy outs are conducted.

Speaking to the Times, Mr Skeoch discussed how Mr Cable "ignored all of the good work done" by investors in attempting to apply corporate governance.

Mr Cable announced his plans for a review of corporate governance earlier this week and described the matter as "an increasing problem".

Mr Cable said: "Short-termism and shareholder disengagement are an increasing problem for our economy."

He added that the corporate governance plans aim to "put responsible shareholders back in the driving seat of our economy" and welcomed the concept of "takeover rules".

Following his statement, the coalition government announced that they will commence a comprehensive review in the autumn season, with potential areas of interest including the motivation behind short-termism and how boards set out their long-term objectives.

Posted by Gaby Hamerton
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