Sir David Walker, author of the Walker review of corporate governance in UK banks, has launched the new Centre for Governance, Risk and Accountability at the University of Greenwich.
The centre will specialise in risk management and modelling, corporate governance and compliance, and corporate social responsibility and is intended to be “a focus of excellence to create a virtuous circle of learning and enterprise between industry, the public sector and academia.”
In his launch speech, Sir David had a particular message for boards in terms of their involvement in formulating strategy, He said “As I see it, the chief executive should be at the beginning and end of the [strategy development] process. It is for the executive to launch a strategic proposition; to be followed by challenge and rigorous review in board discussion leading on to a board conclusion on the course to be followed; and then, at the end of the process, full empowerment of the chief executive to implement the agreed strategy.”
Further details on the new centre, together with a copy of Sir David’s launch speech, can be found here.