Ever since we were founded in 1986 we’ve always had a passion for issues relating to corporate governance. The Higgs report may have recommended that all Boards should have a SID, and that recommendation may now be part of The UK Corporate Governance Code, and so we were interested to learn more about the role and what it felt like to be a SID, and the actual nuts and bolts of the job.
We recently undertook some market research through speaking to over 30 SIDs across the FTSE 100. Our aim was to cover topics ranging from; what the SID’s role should cover; how they should interact with the rest of the Board; crisis management; and remuneration for taking on the responsibility.
We started our thinking by highlighting that a SID should be a sounding board and an intermediary and through our conversations we learnt more about how the role felt like in reality and learnt that people recognise that it is a great role but one that is often not well enough understood.
Please download more if you like to read more and findings from the research.