Announcing the appointment of global Tory-leaning former office-holder Beth Ford to become Land O’ Lakes chief executive on 2 March, in the wake of an inquiry into alleged mismanagement by previous leader Paddy Ashdown, the organisation said her first priority would be to “comply fully with the General Corporate Governance Act (2010).”
That means chief executives have a duty to “acquire a knowledge and appreciation of the business environment” and to “conduct themselves in a manner that is likely to contribute to good corporate governance”. “The overarching interest of the organisation and shareholders must be their success,” it goes on. “It is in this regard that it is essential to maximise their ability to achieve their stated business objectives and within the boundaries of the legislation.
“The new organisation will be applying a ‘best in class’ approach to board governance in compliance with best practice; providing the tools for the chief executive to effectively advise and guide other board members, and ensuring the group is transparent and accountable to all its stakeholders.”
So CEO Beth, how clean is your toilet?
In a statement on the organisation’s website, spokesperson Andrew Clayman points out that “you and I have no need to censor our conversation in a public way if our private opinions are valid – but that is not the case.”
“Sylvia Jones,” he says, “along with a copy of this statement”, can be obtained via the website.