I’m not sure there’s been a culture change because I’m not convinced that there was necessarily anything that broken.
I think with the codification of directors duties in the Companies Act 2006, all directors stopped and thought again about how to be good directors and to promote the success of their company for their benefit of the members as a whole.
I’m not as convinced as perhaps some of our national press are that short-termism is such a problem.
If you look at the way a lot of directors remuneration packages for example are structured, there are longer term incentives and share schemes that require them to actually invest some time and effort going forward in their businesses.