Abstract
In this article I seek to demonstrate that, as drafted, the UK Stewardship Code (SC) is trivial, absent of meaning and incapable of achieving its goals. I will begin by demonstrating how little it has achieved to date and can expect to achieve in the future. In doing so, I will reconsider arguments, advanced elsewhere, concerning the conceptual problems with the SC, specifically: how it is drafted and upon what it focuses. I will then advance new concerns about the practical issues of the SC that make it a blunt tool of corporate governance but go on to show that there are a number of potential ways to change this. In doing so, I hope to provide the impetus to divert the SC from its current path, travelling along the road to nowhere, and instead seek a journey that not only has a destination but a much more promising one.
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