The Institute of Directors is in need of a new chair with the incumbent having “temporarily” stepped down amid a string of frankly lurid misconduct allegations.
Non executives directors in business, eh. The chief criticism of them is that they do too little, being content to pick up their fees and nod their heads while waving through bad ideas and bad pay packages put forward, respectively, by executives and the remuneration consultants that work for them.
If the allegations against Lady Barbara Judge are even slightly true - the Times has reported alleged misconduct including making racist and sexist slurs and bullying IoD staff members - then she’s been doing too much. Far too much.
It is particularly sad that all this has emerged on International Women’s Day. Lady Barbara is the first female chair in the organisation’s history.
But it’s a pity that it has emerged full stop. The IoD was once dominated by Thatcherite fanbois. It was the business group that cheered her on when even the CBI was saying ‘steady on a bit’.
Latterly that’s changed. While I would by no means be in agreement with everything it has to say - it is the voice of company directors and they can be a hidebound bunch - it has some taken some notably progressive positions, and made worthwhile contributions to a number of important debates.
Examples include its stance on corporate governance, and the increasing absurdity of modern big company executives’ pay packages where the IoD has called for investors to be given a larger say. It has also sharply criticised the awards to executives at collapsed contractor Carillon and warned bosses to take note of public disquiet on the issue more generally.
The group has supported the Taylor Review into the “gig economy”, urged the protection of EU workers rights, even called for unions to be allowed the right to ballot their members online. Yes, you read that right.
While hardly a nest of fire breathing radicals, it is often, these days, a lot more sensible than a supposedly pro-business government that business is increasingly falling out of love with thanks to its ideological obsession with a hard Brexit that even some Leave voters are calling into question.
Perhaps that’s because the IoD’s members deal with the practicalities of business, something ministers on the Government benches seem to struggle to understand these days.
Inevitably lawyers have been getting involved, with a report commissioned by council member Dame Joan Stringer due to be discussed this afternoon.
As allegations of coups fly around, the IoD is being talked about for all the wrong reasons, and its authority as an advocate of good corporate governance is in danger of being diminished.
It would be best for all concerned for this affair to be handled as quickly, but more importantly, as professionally as possible. The IoD needs to set an example to its members, and especially on the latter point.
