Informa admits to code breach

<p>Informa, the events, training and STM publishing group, has defied corporate governance guidelines that chief executives should not move up to chair the same company, reports the FT.</p><p>The group is promoting Peter Rigby, its chief executive, to executive chairman. He will succeed Richard Hooper, who retires as non-executive chairman in May. The Combined Code on Corporate Governance says: &quot;A chief executive should not go on to be chairman of the same company.&quot; If a company chooses to go against this, the code says it should consult major shareholders beforehand and explain its decision publicly.</p><p>Informa said it had discussed the move with its six largest shareholders, including L&#38;G and Standard Life.<br /><br /><br /><br /></p>