Published: 11 Jul 2016

Conservative leadership candidate Theresa May is setting out her plans to overhaul corporate governance as part of her bid to become the next Prime Minister.

May, who is running against energy minister Andrea Leadsom for the Conservative Party leadership, will say consumers and workers should have a place on the board.

At the event in Birmingham today (11 July) she will criticise non-executive directors for failing to scrutinise companies enough, insisting they often come from the same social and professional circles.

As part of her plans she will also reveal she would make votes over the pay policy and packages of corporate directors binding instead of advisory.

According to extracts released by her team May will say: ‘We need a bold, new, positive vision for the future of our country, a vision of a country that works for everyone, not just the privileged few.

I want to see changes in the way that big business is governed... So if I'm prime minister, we're going to change that system and we're going to have not just consumers represented on company boards, but workers as well.

Words: Natasha Cowan
Image: Flickr Home Office