4 - The role of the Company Secretary

Summary

Introduction

It is the question that you always slightly dread being asked at a dinner party: ‘What do you do?’ You say that you are a Company Secretary. The questioner normally nods, says something like ‘how interesting’ and moves the conversation on. The slightly more inquisitive may add, ‘and what does that mean?’ You say something inadequate about being involved with working with the board of a company and being a lawyer in business and, generally, working in the field of corporate governance. Having asked the second question, the inquirer never has the courage of the good non-executive director to ask the ‘third question’ and therefore promptly changes the subject.

In today's world, the role of the Company Secretary has no one meaning and covers a multitude of tasks and responsibilities. That said, the role lies at the heart of the governance systems of quoted companies and is receiving ever greater focus.

No matter what other responsibilities the Company Secretary has, his task is to serve and advise his board. This core role alone is becoming more challenging as the work of the board and its committees expands to meet the demands of developing corporate governance systems. I shall examine the evolution of the role of the Company Secretary of a quoted company together with the evolution of the work of the board.