‘Include takeovers in governance code’

The government’s corporate governance committee wants to expand the Netherlands’ corporate governance code to include rules on takeovers, the Financieele Dagblad reports on Thursday.

In addition, the committee wants to introduce a 180-day period for a company board to respond when faced with shareholders who want to alter company strategy drastically or sack board members.
‘In our view, the increasing influence enjoyed by shareholders brings with it more responsibility, such as engaging in constructive dialogue,’ Jean Frijns, who chairs the committee, told the paper.
Interested parties have until September 15 to comment on the proposals.
Unions said they were disappointed in the recommendations because no proposals had been made to tackle the issue of top managers’ pay.

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