Charles Moore, with his usual op-ed Saturday piece in the Daily Telegraph, completely misses the analogy twixt running a company and running UK plc.
As the shareholders of WPP have decided that Martin Sorrell, the CEO, has grown ‘fat’ and want to ‘trim him down to size’. so the shareholders in UK plc wish to ‘trim down to size’ their CEO and the “Board of Management”. Just as Sorrell has ‘grown too big’ so has the CEO of UK plc, the slight difference being that the CEO of UK plc does not have to put his money where his mouth is – he puts our money where his mouth is and consequently is most definitely viewed as “arrogant”. While with UK plc the debate is not wholly concerned with ‘Executive’ pay, although that does play a large part, where UK plc is concerned the ‘whole debate’ most definitely is concerned about ownership – and the people of UK plc are without question the “owners”. The various CEOs of UK plc may have brought the country some success but that has been more by luck than expertise, bearing in mind very very few of them have had expertise in the areas for which they have been responsible – and that that success has been bought on the efforts of the workers, aka the shareholders of UK plc.
Within the political elite, from whom is chosen the CEO and Board of Management of UK plc, emerges a ‘clague’ who have no intention of respecting the wishes of their shareholders; and no commercial company – for that is what, in effect, the UK is – who is in business to generate profits for said shareholders can succeed without the express consent of those shareholders. Where UK plc is concerned, the problem arises in that under the ‘rules’, aka representative democracy, that the CEO and Board of Management impose on the shareholders that is not the way in which ‘public companies’ are supposed to be constituted.
Is it not time that the shareholders of UK plc imposed their ‘rights’ as shareholders, thus demanding the introduction of direct democracy and ‘referism’ – failing which, if the CEO and Board of Management refuse to resign, actually voted them out of office?
Just a thought…………..