When it comes to governance rules, most companies either comply or refuse to do so and explain why. Not Belhaven Group, the largest and oldest regional brewer in Scotland – it has come up with a solution that others might follow.
Until recently Belhaven, with five executive directors and three non-executives, fell foul of the Higgs report's recommendation that boards have a majority of independent non-executives. Rather than appointing three more non-executives â not easy for a mid-cap company based in Dunbar near Edinburgh â it redressed the balance by removing three executive directors.
