"Executive arrangements here in Medway just happen to be in the hands of the Conservative Party.
Assistant chief executive Jane Griffiths, from Cheltenham Borough Council, said: "The council is obliged to adopt one of the options for the new executive arrangements.
"It's quite simple, there's a government publicity code that quite clearly sets out that councils are quite entitled to publish executive arrangements and details of the executive members and not of opposition members," he said.
Now they are to act jointly as chief executive, an arrangement not noted for long-term success elsewhere in the business world -- unless, of course, there is a really strong board chairman.
She has retained her board chairmanship during her tenure as chief executive, an arrangement that her predecessor, Getz Obstfeld, called "fairly uncommon," and that her critics assert insulates her from accountability.
Second, we show that corporate governance reforms aimed at aligning the design of executive pay arrangements with the interests of banks' common shareholders - such as advisory shareholder votes on compensation arrangements, use of restricted stock awards, and increased director oversight and independence -cannot eliminate the identified problem.
