Boardrooms should have nothing to fear – Bates

May 19 2008 by Chris Knox, The Journal

A FORMER North East MP is helping to shake up boardrooms across the region and return confidence to the business sector through the launch of a business consultancy service.

Michael Bates, deputy chairman of the Conservative Party, has launched the new Board Advisory Service as part of his Durham-based business advice firm Walton Bates, and believes it will prove invaluable to those companies wary of following in the footsteps of troubled bank Northern Rock.

Mr Bates, who was former MP for Langbaurgh in Teesside between 1992 and 1997, returned to the North East in 2006 to launch Walton Bates after spending eight years as director of finance and politics consultant at Oxford Analytica. He said: “As soon as the Government starts to get uncomfortable with the economy they pull out the statute book. Businesses in the North East are being increasingly confused about which boxes they have to tick in order to make the boardroom decisions that really matter.

“Boardrooms are even shying away from firing staff who aren’t up to the job for fear of ever changing rules of conduct.

“Firms are also becoming increasingly scared of making vital decisions that could see them grow because of uncertainties following the credit crunch and the fate of Northern Rock. These are very uncertain times and it is with this in mind that the new service can help.”

The new service provides support in a number of areas of boardroom management, including corporate diplomacy, risk assessments and regulation.

Mr Bates, who lives in Durham, has become prominent in the North East business community over the years, acting as a non-executive director at the Vardy Group of Companies in Durham and sitting on the steering group for the North East Economic Forum.

Whilst in Westminster, he was a Government Whip (1994-96), Tyne & Wear Sponsor Minister (1996-97) and Paymaster General (1996-1997).