A focal point of the Government’s current agenda is to ensure UK markets remain competitive and desirable for quoted businesses. We see this as very necessary for the future growth of UK public markets.

Growth companies will play a significant part in the future of our economy and non-executive directors (NEDs) play a critical role in supporting these companies. More so than ever the role of a NED is wide reaching, ranging from keeping their boards focused on strategic priorities whilst managing a raft of significant and ever evolving disclosure and risk. We are partnering with the QCA to conduct a survey to understand the views of our NED community on NED remuneration.

In the Investment Association’s 2023 Letter to Remuneration Committee Chairs, it was noted that “IA members recognise that NED fees have not always reflected the increased complexity and time commitment expected of their role. We have consequently updated the Principles to set out investor support for NEDs to be paid fees which reflect the reality of the time commitment, complexity and skillset required for their role and expectations of the Board and their shareholders.”

We want to further explore this theme in the context of smaller quoted companies, with the objective of understanding whether these companies are able to attract and retain the right NEDs to provide the requisite support at their stage of growth.

To contribute to the discussion, we would be grateful if you would complete our survey. The survey will close on 14 April 2023. The survey should take between 5-10 minutes of your time to complete, and all responses will be anonymous.

We will be co-hosting a breakfast event alongside the QCA on Wednesday 24 May 2023, to debate this topic in more detail. You will be invited to register your interest at the end of the survey.