MADRID Jan 28 Fund manager BlackRock has
written to the Spanish stock exchange regulator asking it to
recommend increases to the minimum number of independent
appointees on the boards of companies in Spain's blue-chip index
, Expansion reported on Tuesday.
BlackRock wants the regulator to recommend the 35
top listed companies in Spain have half their boards made up of
independents, rather than the current third it recommends, the
BlackRock's directors of corporate governance wrote to the
head of the CNMV regulator, Elvira Rodriguez, who is reviewing
Spain's corporate governance code.
"It would be another positive step to help balance the power
within boards, especially in cases where there is a combination
of chairperson and chief executive (in the same person)", said