Press Release

The judging panel for the 2009 ICSA Hermes Transparency in Governance Awards is announced today

20 February 2009

The prestigious line up, set out below, reflects major interests in accounting, risk, regulation, and corporate governance:

AIRMIC – John Hurrell – Chief Executive
ACCA – Richard Aitken-Davis, President
CIMA – Charles Tilley, Chief Executive
FRC- Chris Hodge, Head of Corporate Governance
Hermes – Colin Melvin, Chief Executive
ICAEW – Michael Izza, Chief Executive
ICSA – Roger Dickinson, Chief Executive
IIA – Alec Richmond, Past President
NAPF – David Patterson, Head of Corporate Governance
National Grid plc – Sir John Parker, Chairman
RAILPEN Investments – Frank Curtiss, Head of Corporate Governance
Thomas Cook Group plc – Derek Woodward, Group Company Secretary
Sir John Parker, National Grid’s Chairman will be Chair of Judges. Sir John is one of the most respected and influential figures in the UK boardroom. During the last 26 years he has been on 12 company boards, eight of which he has chaired. He has a large number of non-executive roles, is a member of the Prime Minister’s Business Council for Britain and is Chancellor of Southampton University.

The awards scheme seeks to encourage greater openness and dialogue between company boards and their investor owners, and was established in response to the governance lapses within the banking sector which has led to significant value destruction within those companies, with the subsequent systemic effect on the UK economy. With the Government’s announcement of further regulation in this area, the awards seek to provide the accompanying incentive for companies and investors to improve their performance. The ultimate aim is to re-establish the levels of trust and confidence in governance arrangements within UK companies, and to restore the perception of those companies as well-run and committed to best practice as they seek to compete both domestically and globally.

The inaugural awards ceremony will take place at the Brewery on 18 November 2009. The initiative has also received strong support from the Government, the ABI and the CBI. Hermes Equity Ownership Services (HEOS) has agreed to co-sponsor the scheme with ICSA.

Sir John Parker said: ‘Improving the dialogue between Boards and investors is a priority, so we can develop trust and confidence, particularly in the current economic climate. The Awards are an excellent opportunity to highlight companies that are driving good governance forwards and I'm delighted to be chairing the Judging Panel.’

Colin Melvin said: ‘I am very pleased indeed that Sir John has agreed to chair the judging panel. These awards are all about better communication between companies and their owners and I am sure that Sir John’s insights into this process, as a serving FTSE 100 chairman, will be extremely valuable during the panel’s deliberations.’

David Wilson, ICSA's Director of Policy and Strategy, and formerly a member of the Turnbull Committee on Internal Control for Listed Companies, added:

‘We are delighted that Sir John has accepted our invitation to chair what is an already an impressive panel of judges. The representation on the panel of a wide range of interested parties, including both the corporate sector and institutional investors, demonstrates the interest that has been taken in these Awards and their ability to improve and enhance companies’ dialogue with their investors. That should generate the right environment in the short to medium term to help restore trust and confidence in the corporate sector and the financial system.’