Four quit MDU board over corporate governance
Four directors of the Medical Defence Union have resigned from its board citing concerns over executive pay and financial management.
The non-executive directors said problems with 'transparency in relation to the disclosure of executive remuneration'
and other aspects of 'good corporate governance practice' were behind their decision to quit.
The four have also submitted a report of their concerns to the Financial Services Authority.
Sir Robin Mountfield, a former permanent secretary of the Cabinet Office, Professor Andrew Chambers, Deloitte professor of internal auditing at the University of the South Bank, and Lord Simon Glen-arthur, a former parliamentary under-secretary of state at
the Department of Health
and Social Security, resigned
on July 25. Mike Arnold, a principal at a major London
actuarial company, resigned in March.
The four said the issues did not put members' indemnity at risk.
The MDU said it would co-operate with any inquiry deemed necessary. David Markham, chair of the board, said: 'Members are assured the resignations have no effect on the high-quality medicolegal and other services we provide.'