The primary duty of a company director is to promote the success of the company on behalf of the company’s members – in the UK, these are the company’s shareholders. But there are other groups whose lives and livelihoods are directly affected by what a company does – these are the stakeholders.
UK law requires boards to consider the interests of all company stakeholders as part of the decision making process, whilst the UK Corporate Governance Code makes several recommendations for effective stakeholder engagement.
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