November 27 2007

All you need to know: Report on Business published the results of Board Games 2007 yesterday.

November 19 2007

Pension groups attempt to sway the SEC on the subject of “proxy access”, by which shareholders can influence the nomination of directors. And more on that, citing the U.S. as a “corporate governance laggard” in comparison to Europe. A consideration of Sarbanes-Oxley in both New York and London. SEC penalties the lowest in five years, representing a shift in how shareholders and corporations respectively are regarded as accountable for financial transgressions. Questions raised about poor corporate governance in the fall of UK Bank Northern Rock. From Sri Lanka, on the effects of whistle-blowing. A Towers Perrin report on director compensation identifies four key trends: that specialized board roles are paid more, the granting of shares to directors is becoming more common than options, stock ownership guidelines are becoming more prevalent, and that new disclosure is affecting how directors are paid.

November 12 2007

Newell Rubbermaid joins the ever-growing number of companies to adopt majority voting. A shifting focus toward nominating committees and seccession planning as Merrill Lynch and Citigroup are replacing their CEOs, and shareholders seek more involvement in nominating processes. More on seccession-planning here. In light of Merrill Lynch and Wachovia, on the role played by Boards of Directors in merger negotiations.  

Reflections on Sarbanes-Oxley upon its fifth birthday. Denison Mines receives the 2007 Ontario Corporate Governance Award from the Ontario Chamber of Commerce. Says Denison President Peter Farmer, “The importance of our corporate governance procedures is that it improves communications and it allows us to take better advantage of the expertise on our board.” On the changing face of Canadian corporate governance.

In Jordan, the development of good corporate governance practices is seen as vital to encouraging much needed foreign investment. Good corporate governance practices noted as essential for Nigerian banking success. New systems being instituted to improve corporate governance in Shanghai. Questions about the substance of corporate governance policy in India. And also from India, on corporate governance challenges faced by family-run business.

November 5 2007

Canadian Auditor-General Sheila Fraser and Karl Moore of McGill University discuss the evolution of corporate governance. Hewlett-Packard “whistle-blower” Tom Perkins expands on a point raised by Fraser: is Sarbanes-Oxley swinging the corporate governance pendulum too far into the realm of “box-ticking”?

 

Former Merrill Lynch CEO O’Neal receives $161.5 million– the fifth largest largest CEO severance package ever paid out in America. In light of Merrill Lynch developments, here on “to what extent accountability for effective oversight of financial strategies and gambits reached beyond the chief executive’s suite and into the boardroom.”

 

European corporate governance body ECGS is reported as supporting UK Hedge Fund Algebris’ demands for improved corporate governance by insurer Assicurazioni Generali.  Malaysia’s corporate governance is cited by World Bank as “impressive”. Corporate governance is regarded as being key to improving Pakistan’s global competitiveness.