Rethinking corporate governance part 1: structure of governance at the Day Chocolate Company

This paper offers a case study of the structural aspects of the corporate governance model operated by The Day Chocolate Company (DCC). This company is a fair trade start-up, operating in the UK confectionery sector with the aim of providing market access for the Ghanaian cocoa growers co-operative Kuapa Kokoo. In contrast to the Anglo-American governance model, centred on structural arrangements at the firm level, the case example presented here is a more inclusive stakeholder approach involving partners across the supply chain and external Fair Trade accreditation agencies. It is argued that effective governance, in this company, derives from relationships between stakeholders and the corporate credibility produced by independent external evaluation. The argument therefore prioritises social capital over structural checks and balances prescribed by formalised codes of practice associated with Anglo-American governance models. In so doing, the possibility of developing innovative and more socially oriented governance models in the context of prevailing Anglo-American financial and market institutions is highlighted.