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Nearly nine in 10 think Brits should resign from Russian company boards

by LLB Reporter March 3, 2022

written by LLB Reporter 3^rd Mar 22 10:29 am

The UK’s Institute of Directors has said that it is no longer tenable for British people to hold board positions in Russian companies.

Jonathan Geldart, its director general, said: “The Institute of Directors expresses its solidarity with Ukraine and its people, who are facing intolerable suffering.

Although directors owe legal duties to the companies on whose boards they serve, they should also feel a stronger moral duty to uphold the fundamental values of freedom and democracy. We believe that it is no longer tenable for British directors to be involved in governance roles in the Russian economy. Therefore, we hope that they will now question the viability of their mandates in Russian and Belarusian companies.

The IoD carried out a poll of its members where 86% were in support of the view that all British people should now resign their Russian board mandates.