Theresa May’s red tape burden ‘too much for listed companies’ says Legoland boss

The chief executive of Britain’s biggest quoted leisure group has called for a “sanity check” on the Government’s corporate governance agenda as he warned management time is being “soaked up” with even more UK-led red tape.

Nick Varney, chief executive of Legoland and Madame Tussauds owner Merlin Entertainment, hit out at the increasing layers of regulation he and the bosses of other large public companies are forced to contend with.

In an interview with The Sunday Telegraph, Mr Varney, who has run the Alton Towers to Warwick Castle FTSE 100 leisure conglomerate for the best part of the last two decades, claimed public companies are at risk of considering going private because of the “bloody baggage” caused by increasing regulations in non-core areas.

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Source: The Telegraph Retrieved 26 March 2017, http://www.telegraph.co.uk/business/2017/03/25/theresa-mays-red-tape-burden-much-listed-companies-says-legoland/