April 17 2008

On US activist shareholders after a Director resignation at beleaguered Washington Mutual: “This renewed focus on board accountability isn’t likely to die out anytime soon. Indeed, corporate boards that have been targeted by activist campaigns should be prepared for a tough fight.” At their AGM, a shareholder proposal to separate the Chair and CEO roles won 51% of the vote. Pressure on UK’s Marks & Spencer to compromise on their recent corporate overhaul. On Directors’ increasing clout in setting CEO Compensation. And US Labour Unions assert that CEO pay played a role in the mortgage crisis. New survey shows that most executives think that CEOs are overpaid and underperforming.

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