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ARM Holdings plc (ADR) (ARMH), Carnival Corporation (CCL), CRH PLC (ADR) (CRH), EVRAZ plc (EVR), Serco Group plc (SRP): My Verdict on 5 FTSE Boardrooms

Perhaps it’s no coincidence that two companies near the bottom of the league table are run by overseas billionaires.

Carnival Corporation (LSE:CCL), which operates a dual listing with NYSE-listed Carnival Corporation (LSE:CCL), falls well short in governance standards from a U.K. perspective. The chairman and CEO roles are combined in Micky Arison, the billionaire son of the company’s founder, whose family controls 27% of the shares. With no finance director on the board, and an entrenched management, there’s little oversight apparent.

I wonder if the LSE regrets giving special dispensation to allow EVRAZ plc (LON:EVR) to float just 22% of its shares in 2011. Investors certainly might — the shares have declined by 60% since then. The firm that produces a fifth of Russia’s steel output is controlled by a group of oligarchs close to the Kremlin, including Chelsea-owner Roman Abramovich.

The chairman and CEO are two of the founding oligarchs. There’s no finance director, and the independent non-execs, which include the Queen’s former treasurer Sir Michael Peat, have multiple relationships with the oligarchs’ businesses.

I’ve collated all my FTSE 100 boardroom verdicts on this summary page, and you can see more on each company by following the links above.

Buffett’s favorite FTSE share
Legendary investor Warren Buffett has always looked for impressive management teams when picking stocks. His recent acquisition, H.J. Heinz Company (NYSE:HNZ), has long had a reputation for strong management. Indeed, Buffett praised its “excellent management” alongside its high-quality products and continuous innovation.

So, I think it’s important to tell you about the FTSE 100 company in which the billionaire stock-picker has a substantial stake. A special free report from The Motley Fool — “The One U.K. Share Warren Buffett Loves” — explains Buffett’s purchase and investing logic in full.

The article My Verdict on 5 FTSE Boardrooms originally appeared on

Tony Reading does not own any shares mentioned in this article. The Motley Fool has no position in any of the stocks mentioned.

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