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Essay 1: Sub-Corporate Governance 1

Introduction The company must establish and abide by business rules. Institutional investors used to have much say over who the board picked. This essay discusses how vital institutional investors were in the past when it came to running a business. It also looks at claims that their value is sometimes blown out of proportion, which could lead to an opposing view. Lastly, worries about how a company is run will still be used in real life. Pascal knows a lot about business law, which helps the J&C PLC board increase and make trains fast. 1 People used to believe that large financial institutions, such as banks and retirement plans, played a significant role in keeping businesses in check. Cases like Foss v. Harbottle (1843) and Salomon v. A Salomon & Co Ltd (1897) paved the way by making it legal for big owners to have a say in critical business decisions. It was essential to put the owners' wants first in this case. This showed how big donors looked out for these interests and ensured they were protected. Because of these cases, buyers now look out for business owners' rights regarding how they run and behave. But some people say that wealthy investors don't always make a difference as they seem to. From this point of view, they might only be good at running business boards if they get enough chances and good benefits. This article will talk about what the past means to institutional investors, what problems they are having now, and try to figure out if their business power is growing or shrinking. 2 . This essay about Pascal and the board of J&C PLC will show how valuable these meetings are. Patricia worries about the board's makeup and how it might affect how well the company runs now that she is on it. Because of this, we can see how board diversity affects a company's work in real life. We will talk about Pascal's job as a business law expert. This adds more variety to the board and helps them understand how institutional investors can improve 1 Act, C., 2013. The Companies Act 2006 (Strategic Report and Directors’ Report) regulations 2013 No. 1970. Retrieved February 8 , p.2016. 2 Aniraj, R., 2020. Foss vs. Harbottle (1843). Jus Corpus LJ , 1 , p.315. 2

how a company is run. 3 . This essay must pay close attention to how corporate governance is evolving considering this. Discussion Historical Significance of Institutional Investors institutional investors' influence on corporate management mainly derives from antiquated legislation that served as the foundation for modern business practices. Salomon v. A Salomon & Co Ltd (1897) and Foss v. Harbottle (1843), two significant court cases, have cemented their positions in the United Kingdom. These are substantial occasions that stick out as pivotal ones. 4 The Company's significant legal precedent was established in the 1897 case of Salomon v. A Salomon & Co Ltd, which found that corporations had an independent legal personality apart from their shareholders. This case concerned Mr. Salomon, a sole proprietor who converted his business into a limited liability company. According to the Lords' House, the Company was a distinct legal entity, and the people who held its stock were not required to pay the debt. 5 . Due to this decision, companies now have a defined legal identity and their own set of laws. The Foss v. Harbottle (1843) decision established a precedent prioritizing stockholders, thus solidifying the historical significance of institutional investors. The incident showed the norm that business owners should occasionally act in the best interests of their firm rather than their own. This theory validates the belief that institutional investors, representing a firm's stockholders, have a crucial role in safeguarding their interests and facilitating corporate decisions. These legal precedents impact outside the courtroom and influence corporate policies and practices. A fundamental component of business management is the belief that shareholders 3 Asfaw, M.B., 2021. Corporate Governance Practices. 4 Bhaskar, K. and Flower, J., 2019. Financial failures and scandals: From Enron to Carillion . Routledge. 5 Council, F.R., 2021. Improving the quality of 'comply or explain ' reporting. De febrero de . 3

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ought to have the most significant influence and benefit from decisions made by the organization. institutional investors have taken on the role of guardians of these issues, acquiring considerable influence over company policies, strategies, and board decisions. 6 institutional investors now have the authority and right to participate in the management of a firm due to these legal foundations. Their contributions went beyond simply contributing funds; they began to participate in decisions that determined the direction these firms, in which they held a stake, were headed. 7 . Due to this significant historical event, institutional investors came to be viewed as key players in the management of firms, which paved the way for their continued influence over changes to how businesses are conducted today. Challenges to Institutional Investors' Influence Although they are not immune to problems, institutional investors have a big say in how organizations are run. One crucial issue is the main-subordinate conundrum. The difference between the interests of huge investors working for others and ordinary shareholders with a stake gives rise to this fundamental problem. The tricky part is making sure that the decisions made by institutional investors reflect the interests of all the different shareowners. 8 The Company's depressing illustration of the challenges associated with the main labour dispute is the Institutional Investors v. Unilever PLC case 2017. In this case, institutional investors found themselves in a scenario where their goals were not aligned with those of smaller shareholders. This illustrates how difficult commercial decisions may be. The Unilever scandal pertained to the Company's plan to debut in the Netherlands. Even though this choice would have had financial advantages, some shareholders were worried that it 6 Council, F.R., 2021. Review of Corporate Governance Reporting. November 2021) 9, Sir David Walker,' A Review Of Corporate Governance In UK Banks and Other Financial Industry Entities–Final Recommendations'(Online Report) November 26, 2009 . 7 Dhawan, S., 2018. Company-A Separate Entity (Salomon v. Salomon). Supremo Amicus , 4 , p.446. 8 Gregory‐Smith, I. and Main, B.G., 2023. The Symbolic Management of Women on Company Boards: Evidence Using the UK Davies Review. British Journal of Management . 4

might make it harder for them to buy and sell shares in the future. Balancing the Company's long-term goals with each stakeholder's urgent concerns fell to institutional investors, who comprise a large class of stockholders. 9 Their objectives differed when the big-time investors favoured moving everything to the Netherlands because they intended to make as much money as possible over a long period. Many shareholders, however, were unhappy with the decision and became instantly anxious about their investments. The ensuing dispute underscores the challenging problem major investors encounter when reconciling conflicting interests among a heterogeneous group of investors. The instance of Unilever highlights the necessity for institutional investors to be cautious when fulfilling their financial commitments. Even for individuals who genuinely want what's best for shareowners and what they stand for, agreeing with a broad group of people with differing investing styles, risk tolerances, and preferences for alternative possibilities may take a lot of work. 10 To overcome these concerns, institutional investors must use persuasive communication techniques that promote openness and active engagement in their share-owner group. In addition, putting complex rules into place—like creating committees to interact and communicate with investors—might help reduce the risks related to the initial labour conflict. 11 Finally, problems resulting from undue influence from prominent investors, especially the central worker-boss conflict, must be resolved completely and comprehensively. Finding a balance between the urgent needs of single owners and the long-term goal of creating value takes a lot of work. It necessitates prudence and the ability to modify plans as needed quickly. 9 Higgs, D., 2003. Review of the role and effectiveness of non-executive directors. 10 Hunt, V., Layton, D. and Prince, S., 2015. Diversity matters. McKinsey & Company , 1 (1), pp.15-29. 11 Jones, G., 2019. It’s Not Easy Being a Parent: AAA v. Unilever and the Control Conundrum–When a Controlling Shareholder May Owe a Duty of Care in Respect of the Acts or Omissions of a Subsidiary. Business Law Review , 40 (1). 5

The Alleged Decline in Influence There has been much debate over the alleged decline in the influence of institutional investors. Proponents of this viewpoint claim that observed issues and benefits could prevent them from exercising significant power over corporate boards. A notable instance that has contributed to these discussions is the collapse of Carillion in 2018. Large UK construction and support company Carillion experienced a highly publicized failure that produced several issues for investors, employees, and the broader economy. Essential questions regarding how well professional investors' involvement and oversight could prevent such corporate disasters were raised by this circumstance. Following Carillion's demise, there was a renewed focus on how institutional investors safeguard the rights of equity holders and ensure that the companies they fund may survive for a very long time. It is said that Carillion's failure exposed shortcomings in the oversight mechanisms of institutional investors. This raises the question of whether they are adept at averting business issues before they arise. Numerous factors contribute to the alleged decline in power. First, today's businesses' enormous scale and complex aspects present challenges for big money lenders. Due to the intricate nature of these organizations, many stakeholders with vested interests, and their global operations, it can take time for institutional investors to comprehend and manage potential risks fully. Furthermore, some institutional investors are considering the immediate future. This is a result of their pressure to provide rapid earnings. This may lessen their ability to keep a close eye on things in the future. This lack of foresight may hinder their ability to advocate for sustainable company practices and strategies to mitigate potential risks. 12 Additionally, the dispersed ownership structure of many modern businesses may lessen the influence of confident significant investors. institutional investors must collaborate and 12 LORDS, H.O., 2011. Women on boards. 6

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reach a consensus to impact firm executives considerably. However, it can be challenging to win over all the many kinds of wealthy investors, each with their aspirations and future ambitions. Prominent investors are increasingly requested to increase their levels of involvement to address these issues and combat the perceived loss of influence. This includes attending shareholder meetings, advocating for operational improvements and integrity, and requesting reliability. Furthermore, incorporating environmental, social, and governance (ESG) considerations into investment decisions is gaining traction. 13 Therefore, the Carillion case illustrates concerns regarding a potential decline in the influence of institutional investors, such as banks. While issues like the complexity of today's large corporations and focusing on short-term gains persist, group investors must adapt and fortify their monitoring frameworks. As corporate operations evolve, we must reexamine their role. This ensures that they remain benevolent overseers of owners' wishes and contribute to the long-term viability of the businesses they invest in. Adapting to Change: Strategies for Institutional Investors The impact of huge investors on circumstances is changing how they address innovative concerns. Institutional investors begin by considering historical significance. They must understand and be able to manage the challenges of today's corporate environment. This section examines the primary tactics that affluent investors might use to respond to market fluctuations based on ideas from legal cases that have influenced their position in firm management. Stakeholder involvement must be viewed as a vital approach by wealthy investors to address difficulties and perceived power imbalances. The 2017 Institutional Investors v. Unilever PLC case is a prominent example of the boss-worker dilemma. institutional investors' goals did not coincide with those of small stockholders. It is critical to actively participate in resolving these issues. 13 Mendelsohn, J., 2012. Still" the unyielding rock"? A critical assessment of the ongoing importance of Salomon V Salomon & Co LTD [1897] A.C. 22 in the light of selected English company law cases (Doctoral dissertation, University of Huddersfield). 7

The Salomon v. A Salomon & Co Ltd (1897) case is one of several historical precedents illustrating the importance of prioritizing shareholders. However, a more transparent approach is essential due to the changing nature of stakeholder relations. Speaking with multiple owner groups, regardless of size, can help institutional investors better recognize and resolve conflicts of interest. The example of Unilever highlights the importance of effective communication and clear messaging in settling disagreements and bringing different interests together for the benefit of all parties. Prominent corporate investors should use technology to monitor and manage their investments better. This will help with the problems that most firms are now facing. The collapse of Carillion in 2018 underlined the importance of robust processes to enable effective oversight. This example may teach institutional investors the importance of detecting and controlling potential risks early on. Foss v. Harbottle (1843) indicates that courts have traditionally valued shareholder interests. In these challenging times, technology provides us with a significant advantage. Using tools for complex research and observation, institutional investors can swiftly develop a group understanding of a company's actions, financial health, and risk profile. Staying current with evolving technology can help big-money investors become more competent at comprehending complex business environments and discovering answers before problems worsen. To alleviate concerns about stressing immediate money gains, institutional investors must achieve a balance between short-term cash returns and long-term health. The failure of Carillion encourages us to think about a company's long-term survival before investing. Case laws such as Salomon v. A Salomon & Co Ltd highlight the importance of protecting the rights of shareholders. To adapt to change, affluent investors must demand environmentally friendly business practices. Environmental, social, and governance (ESG) issues are now included in investment decisions on shareholder preferences. It also encourages more cautious company management in general. Wealthy investors should collaborate and help develop industry standards to overcome the issue of appearing less significant. As demonstrated by Foss v. Harbottle, institutional 8

investors can change a company's regulations and policies since they are essential to the legal system. institutional investors can pool their resources to solve issues and lobby for corporate operational reforms through collaborative activities such as shareholder action. Large money organizations can influence corporations' decisions by connecting with other entrepreneurs and developing rules for solid management practices. Rules lay the groundwork but must be revised to accommodate new concerns. Collaboration is critical to achieving these changes. institutional investors must also adjust as businesses evolve. They need to talk more with other relevant groups (stakeholders), use technology to monitor closely, balance the benefits of investing now against investing later, and collaborate on initiatives. Lawsuits highlight the historical significance and fundamental concepts that govern business management. They teach us important historical lessons. institutional investors will continue to be vital if they change their ideas in light of new and old facts as they negotiate the intricacies of today's industry. Advising J&C PLC on Board Diversity Legal Foundations and Compliance Having various individuals on the board is a sensible move in corporate management and a law requirement. A corporate law expert, Pascal, will advise Patricia and the J&C PLC board. As part of their plan, they intend to focus on gaining a distinct group with strong legal justifications, such as The Equality Act of 2010. This is a critical piece of legislation. It recommends firms eliminate unfairness from their boards and focus on including a diverse range of people. As a result, it promotes modern ethical corporate practices that stress treating people properly. The Equality Act of 2010, a key piece of legislation, sought to promote equal opportunity and eliminate discrimination in various aspects of society, including the workplace. Pascal would advise Patricia and the Board that corporations are legally compelled to encourage diversity actively; this law is not merely a suggestion. This guarantees that the makeup of boards reflects a welcome and equal blend of varied experiences, viewpoints, and points of view. 9

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Pascal's suggestion would be to develop a vast chart listing all of the competencies required to serve on boards. This tool provides a realistic and systematic approach to assessing current board members' qualifications, backgrounds, and experiences. Using this information, J&C PLC may discover areas that require more perspectives and make sense of what they already have. Pascal's board skills chart makes complying with the Equality Act 2010 rules easier. It allows us to view each board member's talents and characteristics systematically. Pascal would highlight the importance of considering a diverse variety of origins and skills in addition to essential diversity. This is consistent with the law's goal of true acceptance that supports making sound decisions rather than simply different numbers. Pascal would make it apparent to J&C PLC that having a diverse board is strongly tied to successful management and goes beyond simply meeting the rules. Although the Equality Act of 2010 sets standards, Pascal prefers a proactive approach. He feels that being unique is beneficial when making business decisions, not just checking things off a list. 14 Pascal oversees J&C PLC's compliance with the Equality Act 2010 regulations. This keeps them in compliance with the law and fosters the development of a company that cherishes unique individuals. Additionally, this improves the company's reputation, employee satisfaction, and relationships with business partners. Pascal would argue that diversity is not just about avoiding legal issues but also about fostering a friendly environment that enhances board performance and raises the company's overall performance. Pascal's counsel stems from his understanding that social norms and legal requirements are subject to change. It is evident from the Equality Act of 2010 that diversity matters today. J&C PLC abides by this guideline and conducts itself morally recognizably. Pascal's counsel goes beyond simply following the law; instead, it promotes a paradigm shift in which the diversity of the company's board is viewed as a crucial force propelling the enterprise towards sustained success in an evolving business environment. 15 . 14 Mesimeri, I., 2018. Why is the rule in Foss v Harbottle such an important one? Areti Charidemou . 10

Strategic Planning for Board Diversity Pascal advised Patricia and the board of J&C PLC that it is not just about rules but also includes making plans for getting more different people on their team. Pascal wants people to take action based on essential studies and reports. He thinks diversity isn't just a need but can bring benefits in making plans better, too. The Higgs Report from 2003 is an essential paper about how companies are run. It's one of the main ideas that Pascal gives for good advice. This report shows how important it is for boards of different types to help create new ideas, improve things, and boost overall board work. Pascal uses the Higgs Report to give a historical view that matches how corporate governance keeps changing. Pascal used the 2011 Women on Boards Report. This report focuses precisely on how many men and women get top jobs in companies. This report shows how having more women on boards can be helpful, and it's crucial right now. Pascal wants to show that variety is not just a popular word but something important supported by proof. Pascal's advice stresses the importance of many different views. This matches today's rules for good business behaviour ethically. J&C PLC can benefit from different views by creating a board that welcomes everyone. These help make new ideas and good decisions. Pascal told Patricia that a board with other people is not just like society's values; it's something clever that puts the Company in a good position for long-term success. Pascal's tip also points out how diversity boosts creativity in the boardroom. The Higgs Report demonstrates that different boards are more likely to generate new ideas. This helps create a culture of creativity and flexibility. For a business like J&C PLC, working in an ever- changing field, invention is significant for staying ahead of others and dealing with changing market patterns. 15 Okike, E., 2019. Corporate governance in the United Kingdom. Corporate Governance in Commonwealth Countries (S. 337– 365) 11

In addition, Pascal would offer guidance on risk management in his planning techniques. Research indicates that specific boards are more adept at identifying, investigating, and eliminating threats. Diverse perspectives contribute to a deeper understanding of complex issues. This enables the team to make wise decisions that safeguard their business. It becomes wise to surround oneself with a diverse range of people when doubts arise. Pascal would concur that having diverse individuals make decisions is crucial. Several points of view ensure that decisions are thoroughly considered, considering various approaches and potential outcomes. This is consistent with the modern notion that doing business ethically entails more than simply abiding by the law. It involves making decisions considering broader impacts on others and our community. Pascal's strategy for board diversity ultimately involves more than just observing the regulations. Pascal concurs with significant reports such as the Women on Boards and Higgs reports. These demonstrate the benefits of a diverse boardroom for an organization's objectives, increased innovation, improved risk management, and more informed decision-making. J&C PLC positions itself as more than just a rule-follower by prioritizing diversity and inclusivity. It develops into a creative business that leverages a variety of perspectives from many individuals to achieve long-term success in a rapidly evolving business environment. 16 Relationship between Board Diversity and Effective Governance While advising Patricia on the connection between excellent leadership at J&C PLC and diversity on the board, Pascal would consult relevant documents supporting the evident benefits of having diverse individuals on the team. A study such as the 2003 Higgs Report illustrates how diversity can improve corporate governance. The 2011 Women on Boards Report by Lord Davies, which examines the representation of men and women in leadership positions, is another significant study. It helps us comprehend the advantages of this kind of diversity. 17 16 Pires, S.S.C., 2014. Unilever Group: equity valuation (Doctoral dissertation). 17 Villiers, C., 2011. Women on Boards: Report from the United Kingdom. Eur. Company L. , 8 , p.94. 12

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According to the 2003 Higgs Report, having a diverse board is crucial for effective management. Pascal would likely utilize this report to demonstrate that diversity is a planned power rather than just the morally correct thing to do or a legal need. The study highlights the benefits of having diverse perspectives, life experiences, and talents on the board when making decisions. Pascal may explain to Patricia that a diverse range of views is essential for fostering innovative and creative ideas in the conference room. For J&C PLC, which manufactures goods in a dynamic and demanding industry, differentiating itself from competitors is crucial 18 The 2011 Lord Davies report regarding women on boards provides more information on Pascal's statement. According to this survey, having women in these roles benefits businesses and highlights the need for diverse genders on boards. Pascal would use this essay to demonstrate how having a diverse group of people—in this case, men and women—can enhance one's ability to make money, manage risk, and maintain control. Patricia would discover how a diverse collection of CEOs contributes to the Company's long-term success by reflecting the range of individuals who work for and purchase from it. Pascal would describe how diversity on the board fosters innovation and advancements for J&C PLC. When individuals with diverse backgrounds, perspectives, and abilities come together, it generates new ideas and creates an environment conducive to innovation. This is crucial for a company like J&C PLC, which operates in an industry characterized by rapid changes in technology and consumer preferences. 19 Pascal would also stress the importance of various items when managing risk effectively. Diverse perspectives and life experiences make a group more adept at identifying, evaluating, and minimizing risks. The board will be better able to decide what is best for the business and 18 Tomo, A. and Willmott, H., 2022. 'Making Tomorrow a Better Place'? Carillion is a window on the dark side of audit in the system of company regulation . 19 Sikka, P., Hudson, A., Hadden, T., Willmott, H., Christensen, J., Cooper, C., Haslam, C., Ireland, P., Parker, M., Pearson, G. and Pettifor, A., 2018. A better future for corporate governance: democratizing corporations for their long-term success. Review commissioned by Shadow Business Secretary Rebecca Long-Bailey MP and Shadow Chancellor of the Exchequer John McDonnell MP, House of Commons, Westminster London SW1A 0AA . 13

those who care about it if they hear different points of view. This will result in effective control even in uncertain or unclear situations. Pascal would also emphasize the importance of matching diverse viewpoints with the Company's clientele. J&C PLC designs and manufactures trains to suit its clientele's various demands and preferences. A team that demonstrates this diversity can better understand what customers want, which could result in producing products and aiding that have a stronger connection to the purchasing community. 20 Pascal would argue that when it comes to solving complex challenges, a diverse group of board members with a range of life and professional experiences are better equipped to tackle problems that require multiple phases or components to be solved. J&C PLC can develop strategies that consider a wide range of factors by using the collective knowledge of a broad staff. As a result, their work is more durable and robust. Finally, Pascal's advice to Patricia demonstrates that having diverse perspectives on a board is essential for good governance and goes beyond simply being trendy. He makes a compelling case for the value of diversity in creating new ideas, risk-taking, problem-solving, and creativity by using significant articles as a guide. 21 . This demonstrates how crucial it is for J&C PLC to remember this long-term if they want their business to succeed. Conclusion In conclusion, institutional investors' role in company management is critical. Prior judicial rulings gave them a pivotal role in determining the future course of businesses. However, examining contemporary corporate governance raises questions about the extent of their influence. This essay has reviewed the background of institutional investors, the issues they face, and whether their influence is sometimes exaggerated. It may give the impression that things are becoming worse. 20 Solomon, J., 2020. Corporate governance and accountability . John Wiley & Sons. 21 Tricker, B., 2020. The evolution of corporate governance . Cambridge University Press. 14

Big-money investors have always been influential in company governance. Cases such as Foss v. Harbottle (1843) and Salomon v. A Salomon & Co Ltd (1897) demonstrated these. These cases established corporations' legal existence and the importance of shareholder interests. Large-scale investors began to participate in decision-making and safeguard shareholder rights in the ensuing years. However, as we approach the modern economic environment, concerns about the limitations and potential consequences of these investors' influence intensify. Large and small shareholders have distinct interests, which makes it difficult for them to play their part. This is evident in cases like Institutional Investors v. Unilever PLC (2017), highlighting the issues with huge money holders' control. The collapse of Carillion in 2018 prompted a reexamination of the effectiveness of institutional investors in averting corporate failures. It also raised concerns regarding these locations' control systems. Factors like the increasing intricacy of modern large corporations, a focus on rapid gains, and extensive ownership diminish their influence. Nevertheless, institutional investors are urged to adapt and fortify their monitoring systems in light of these challenges. Collaborating, expanding their network, and considering social issues, the environment, and regulations while making decisions are strategies designed to help businesses adapt to a changing corporate environment. Pascal's expertise in Corporate Law assists J&C PLC in implementing these discussions and ensuring that its board comprises members with diverse backgrounds. This is significant since it can enhance a company's profitability ability. Patricia's concerns about the board's composition serve as a reminder of how theoretical topics can have practical implications. Based on legislation such as The Equality Act of 2010, Pascal's advice involves obeying commands and planning ahead. He highlights the benefits of having a diverse group of members on a board. This is comparable to research such as the 2003 Higgs Report and the 2011 Women on Boards Report, which highlight how diverse perspectives foster innovation, improve risk management, and facilitate decision-making. Therefore, the role of institutional investors is constantly changing as corporate governance does. While their historical significance is undeniable, they must find innovative solutions to contemporary issues to maintain their influence. The actual circumstances at J&C 15

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PLC illustrate how challenging these issues can be. Action must be taken, including expanding the diversity of the board members. In today's competitive business environment, this helps businesses succeed and endure. 16

References Act, C., 2013. The Companies Act 2006 (Strategic Report and Directors’ Report) regulations 2013 No. 1970. Retrieved February 8 , p.2016. Aniraj, R., 2020. Foss vs. Harbottle (1843). Jus Corpus LJ , 1 , p.315. Asfaw, M.B., 2021. Corporate Governance Practices. Bhaskar, K. and Flower, J., 2019. Financial failures and scandals: From Enron to Carillion . Routledge. Council, F.R., 2021. Improving the quality of 'comply or explain ' reporting. De febrero de . Council, F.R., 2021. Review of Corporate Governance Reporting. November 2021) 9, Sir David Walker,' A Review Of Corporate Governance In UK Banks and Other Financial Industry Entities–Final Recommendations'(Online Report) November 26, 2009 . Dhawan, S., 2018. Company-A Separate Entity (Salomon v. Salomon). Supremo Amicus , 4 , p.446. Gregory‐Smith, I. and Main, B.G., 2023. The Symbolic Management of Women on Company Boards: Evidence Using the UK Davies Review. British Journal of Management . Higgs, D., 2003. Review of the role and effectiveness of non-executive directors. Hunt, V., Layton, D. and Prince, S., 2015. Diversity matters. McKinsey & Company , 1 (1), pp.15- 29. Jones, G., 2019. It’s Not Easy Being a Parent: AAA v. Unilever and the Control Conundrum– When a Controlling Shareholder May Owe a Duty of Care in Respect of the Acts or Omissions of a Subsidiary. Business Law Review , 40 (1). LORDS, H.O., 2011. Women on boards. 17

Mendelsohn, J., 2012. Still" the unyielding rock"? A critical assessment of the ongoing importance of Salomon V Salomon & Co LTD [1897] A.C. 22 in the light of selected English company law cases (Doctoral dissertation, University of Huddersfield). Mesimeri, I., 2018. Why is the rule in Foss v Harbottle such an important one? Areti Charidemou . Okike, E., 2019. Corporate governance in the United Kingdom. Corporate Governance in Commonwealth Countries (S. 337–365) Pires, S.S.C., 2014. Unilever Group: equity valuation (Doctoral dissertation). Sikka, P., Hudson, A., Hadden, T., Willmott, H., Christensen, J., Cooper, C., Haslam, C., Ireland, P., Parker, M., Pearson, G. and Pettifor, A., 2018. A better future for corporate governance: democratizing corporations for their long-term success. Review commissioned by Shadow Business Secretary Rebecca Long-Bailey MP and Shadow Chancellor of the Exchequer John McDonnell MP, House of Commons, Westminster London SW1A 0AA . Solomon, J., 2020. Corporate governance and accountability . John Wiley & Sons. Tomo, A. and Willmott, H., 2022. 'Making Tomorrow a Better Place'? Carillion is a window on the dark side of audit in the system of company regulation . Tricker, B., 2020. The evolution of corporate governance . Cambridge University Press. Villiers, C., 2011. Women on Boards: Report from the United Kingdom. Eur. Company L. , 8 , p.94. 18

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