Growing business in this post-pandemic world of inflation, energy and supply-chain crises, make for an incredibly challenging governance landscape currently. Furthermore, in Malta we are still adjusting to a new normal in terms of local regulatory and compliance pressures.
In Views from the Chair - PwC’s Governance survey 2022, we looked to explore local current governance practices and whether these are up to meeting these challenges. It is a collection of real world data from within the boardrooms of the equity issuers listed on the Malta Stock Exchange main market1. These include a wide variety of businesses operating in a number of industries, some much more regulated than others. In contrast with some other jurisdictions, many of these entities are not significantly dominated by widely dispersed ownership and frequently include family or state ownership even after listing.
1 References in this document to ‘listed companies’ are to this cohort of companies with equity listed on the MSE main market.
During summer 2022, PwC Malta surveyed the views of the Chairs of these listed entities, looking to understand better current corporate governance practices in the following key areas:
- Board composition and diversity
- Board practices and effectiveness
- Shareholder, investor and stakeholder engagement (including ESG matters)
- Corporate culture
- Strategy and risk
- Post-pandemic world and the changing Business Landscape
The data was collected via a list of questions discussed with 82% of the Chairs of the 32 listed equity issuers. As this was done mainly through personal interviews, the Chairs were provided with a forum to expand on their answers and volunteer views on issues that matter to them.
We chose to explore Chairs’ views as in practice, they are many times the stewards of governance standards. Also, their role is increasingly under the spotlight in a time of crisis of leadership.
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