IoD: British directors should leave posts on Russian boards immediately

British directors should leave their posts on Russian boards immediately, a top business group urged today.

The Institute of Directors (IoD) has appealed to the “moral duty” of all UK directors in a bid to step up the West’s freezing out of Russia from the global business community.

“Although directors owe legal duties to the companies on whose boards they serve, they should also feel a stronger moral duty to uphold the fundamental values of freedom and democracy,” Jonathan Geldart, director general of the IoD, said.

“We believe that it is no longer tenable for British directors to be involved in governance roles in the Russian economy,” he added.

Fresh research by the IoD found 86 per cent of directors think all British people should resign from their positions on Russian boards.