22-530: The Cadbury Report , titled Financial Aspects of Corporate Governance , is a report issued by "The Committee on the Financial Aspects of Corporate Governance" chaired by Sir Adrian Cadbury , chairman of Cadbury , that sets out recommendations on the arrangement of company boards and accounting systems to mitigate corporate governance risks and failures. In 1991 the London Stock Exchange set up
44-560: A clear division of responsibilities at the head of a company so that no one individual had too much power. He was a member of the OECD Business Sector Advisory Group on Corporate Governance. His publications include: Ethical Managers Make Their Own Rules ; The Company chairman ; Corporate Governance and Chairmanship: A Personal View . He was appointed High Sheriff of the West Midlands for 1994–95. Sir Adrian had
66-725: A daughter. In 1994, he was married for the second time, to Susan Sinclair. He joined the Cadbury business in 1958, and became chairman of Cadbury Ltd in 1965. He retired as chairman of Cadbury Schweppes in 1989. He was a director of the Bank of England from 1970 to 1994, and of IBM from 1975 to 1994. He was chairman of the UK Committee on the Financial Aspects of Corporate Governance which published its Report and Code of Best Practice (" Cadbury Report and Code") in December 1992. Cadbury's report advocated
88-520: A long-standing relationship with Aston University in Birmingham . He served as Aston chancellor between 1979 and 2004, later chaired the University's Development Board, and was one of the University's most generous supporters. As chancellor emeritus, Sir Adrian contributed to undergraduate and postgraduate courses, speaking in particular on governance, business ethics and corporate social responsibility. He
110-447: A new combined club to compete against Oxford clubs in the annual boat races. This followed a vote in April 2020 by members of all three clubs which was overwhelmingly in favour of the merger. The merger and subsequent rebrand led to a new visual identity for Cambridge University Boat Club. The new logo kept the old colours of red and black, but added yellow, the traditional team kit colour of
132-695: Is the rowing club of the University of Cambridge , England . The club was founded in 1828 and has been located at the Goldie Boathouse on the River Cam , Cambridge since 1882. Nowadays, training primarily takes place on the River Great Ouse at Ely . The prime constitutional aim of CUBC is to beat Oxford University Boat Club in the annual Oxford and Cambridge Boat Race and Lightweight Boat Races . CUBC's Openweight Men's squad currently lead Oxford in
154-543: The Canary Islands in 1990 shone a spotlight on his company's affairs. A series of risky acquisitions in the mid-eighties had led Maxwell Communications into high debts, which was being financed by diverting resources from the pension funds of his companies. After his disappearance, it emerged that the Mirror Group 's debts (one of Maxwell's companies) vastly outweighed its assets, while £440 millions (GBP) were missing from
176-624: The University of Birmingham , Birmingham City University , the University of Cambridge , and the University of Bristol ). The Royal Society of Arts awarded Sir Adrian its Albert Medal in 1995, and he received one of the International Corporate Governance Network's inaugural awards in 2001. In early 2008, Sir Adrian was made an honorary fellow of the Institute of Chartered Accountants in England and Wales (ICAEW). Sir Adrian
198-812: The Women's Boat Race moved to the Championship course in London in 2015 , followed by the Men's Lightweight Boat Race in 2019 and the Women's Lightweight Boat Race in 2020. CUBC was one of five clubs which retained the right until 2012 to appoint representatives to the Council of British Rowing . The others were Leander Club , London Rowing Club , Thames Rowing Club and Oxford University Boat Club . On 1 August 2020, CUBC formally merged with Cambridge University Women's Boat Club and Cambridge University Lightweight Rowing Club to form
220-829: The Cadbury committee and the report was published in draft version in May 1992. Its revised and final version was issued in December of the same year. The report's recommendations have been used to varying degrees to establish other codes such as those of the OECD , the European Union , the United States , the World Bank etc. Sridhar Arcot and Valentina Bruno in their article called "In Letter but not in Spirit: An Analysis of Corporate Governance in
242-568: The UK" explain the background to the Cadbury Committee. Although wrong on the historical facts, as Robert Maxwell died on 5 November 1991 and "The Committee on the Financial Aspects of Corporate Governance" known as "The Cadbury Committee" was set up in May 1991 for other reasons than the Maxwell case, it gives an interesting reading of the situation at the time: Robert Maxwell 's death while cruising on
SECTION 10
#1732852293076264-465: The US experience, further elaborated after a process of consultation and widely accepted. The final report was released in December 1992 and then applied to listed companies reporting their accounts after 30th June 1993. Lessons from the report according to The National Computing Centre, 2010: Adrian Cadbury Sir George Adrian Hayhurst Cadbury , CH , DL (15 April 1929 – 3 September 2015)
286-698: The company's pension funds. Despite the suspicion of manipulation of the pension schemes, there was a widespread feeling in the City of London that no action was taken by UK or US regulators against the Maxwell Communications Corp. Eventually, in 1992 Maxwell's companies filed for bankruptcy protection in the UK and US. At around the same time the Bank of Credit and Commerce International (BCCI) went bust and lost billions of dollars for its depositors, shareholders and employees. Another company, Polly Peck , reported healthy profits one year while declaring bankruptcy
308-577: The next. Following the raft of governance failures, Sir Adrian Cadbury chaired a committee whose aims were to investigate the British corporate governance system and to suggest improvements to restore investor confidence in the system. The Committee was set up in May 1991 by the Financial Reporting Council , the London Stock Exchange , and the accountancy profession. The report embodied recommendations based on practical experiences and with an eye on
330-588: The series by 87 races to 81, with 1 dead heat in The Boat Race 1877 , while the Openweight Women's squad lead Oxford by 48 races to 30. The Lightweight Men's squad lead Oxford by 31 races to 19, and the Lightweight Women's squad lead Oxford by 24 races to 17. The inaugural meeting of Cambridge University Boat Club took place at Gonville and Caius College on 9 December 1828. Following this meeting, it
352-633: The world. Cadbury was born on 15 April 1929, a member of the Cadbury family, which is known for its Quaker philosophy and for the chocolate conglomerate that it founded. He was educated at Eton and King's College, Cambridge . At Cambridge, he rowed in the losing Cambridge boat in the 1952 Boat Race . He also rowed in the Great Britain coxless four in the 1952 Summer Olympics in Helsinki. Cadbury had two marriages; in 1956, he married Gillian Skepper, who died in 1992, and with whom he had two sons and
374-553: Was a steward of Henley Royal Regatta and the president of Birmingham Rowing Club . Sir Adrian was appointed Member of the Order of the Companions of Honour (CH) in the 2015 New Year Honours for services to business and the community, especially in Birmingham. He died on 3 September 2015, aged 86. Cambridge University Boat Club The Cambridge University Boat Club ( CUBC )
396-456: Was agreed that a challenge be sent to the University of Oxford to organise a race between representatives of the two universities. A letter was sent to Oxford in which they were challenged "to row a match at or near London, each in an eight-oared boat during the ensuing Easter vacation". Consequently, the first Boat Race took place at Henley-on-Thames in June 1829. The first Women's Boat Race
418-431: Was also a patron of Aston Raise and Give Society, which is the fundraising body of Aston University. As part of the 60th anniversary celebrations of Aston Business School in 2008, Sir Adrian was awarded a rare Beta Gamma Sigma Business Achievement Award. Aston Business School's MBA lecture theatres were also named after Sir Adrian and Lady Susan Cadbury, in recognition of their long association with Aston University. He
440-488: Was an English businessman who served as the chairman of Cadbury and Cadbury Schweppes for 24 years. He was also a British Olympic rower . Cadbury was a pioneer in raising the awareness and stimulating the debate on corporate governance and, via the Cadbury committee set up by the London Stock Exchange , produced the Cadbury Report , a code of best practice which served as a basis for reform of corporate governance around
462-553: Was made a Knight Bachelor in 1977, thereafter becoming Sir Adrian Cadbury. He was given the Freedom of the City of Birmingham in 1982. He was appointed as a deputy lieutenant (DL) of the West Midlands in 1995. In recognition of his contribution to commerce, corporate governance and public life, Sir Adrian has received honorary degrees from many universities (including Aston University,
SECTION 20
#1732852293076484-582: Was raced in 1927 on the Isis at Oxford, Cambridge was represented by a crew from Newnham College in front of hostile crowds. They were later joined by students from Girton College to form CUWBC for the 1941 Boat Race. CULRC was formed in 1974 to provide a lightweight crew to race OULRC in the first Lightweight Boat Race in 1975. In 1984 CUWBC fielded a lightweight women's crew for the first Lightweight Women's Boat Race at Henley. These races remained in Henley until
#75924