Do Your Employment Contracts Reflect The Needs Of The Business?Posted in : Essential Guide to Employment Contracts on 28 September 2021 Issues covered: Fiduciary duty; Senior manager Contracts; Better Business
Better Business Act
The Better Business Act (“BBA”) coalition recently proposed an amendment which, if passed, would change the focus of the director’s duty set out in section 172 of the Companies Act 2006 from being a duty “to promote the success of the company” to being a duty “to advance the purpose of the company”.
This reflects the modern approach to sustainable business. What success means for business is no longer reflected solely on increasing shareholder value. The BBA coalition want to ensure that business success is measured by not only boosting the bottom line, but also by its impact on people and the environment. And while this is not yet law, it is a good idea to ensure senior
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This article is correct at 28/09/2021
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