Veteran banker to lead DTI investigation into role of directors

Derek
Higgs, the veteran investment banker, will head up the DTI review into the role
of non-executive directors in the UK.

According
to the FT Higgs will take up the role after supermarket magnate Sir Peter Davis
rejected the position.

The
review was announced six weeks ago and will look at the role of board directors
in the wake of highly controversial scandals like Enron and Marconi.

The
review will run alongside the work of another group considering financial
reporting and auditing, with the two investigations possibly leading to a
combined code of practice.

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The
findings and recommendations are expected to be presented by the end of the
year.

www.dti.gov.uk