The CCBE had a very busy September. On top of all of the work we made a very smooth transition back to 105 St. George St. and into the new Rotman building after spending several years down by Queen’s Park.
Our website address has changed as well, and with a new look no less! You can either:
- Follow the link from the main page (http://rotman.utoronto.ca/), by hovering over “Faculty and Research” heading and finding us under the “Research Institutes” column in the drop-down.
- Go directly by entering the following address: http://rotman.utoronto.ca/FacultyAndResearch/ResearchCentres/ClarksonCentreforBoardEffectiveness.aspx
“Rebel” shareholders may force a vote on the controversial appointment of Marks & Spencer CEO Stuart Rose the position of Chairman. The other side of the coin across the Atlantic, as troubled Wachovia Corp’s CEO gives up the Chairman title. See further coverage here. Argument that “CEOs aren’t overpaid” put forth here. On “say on pay” after the Aflac AGM, and further evidence that the movement is “losing steam”.
A new survey by Spencer Stuart shows that as director compensation continues its steady increase, director share ownership is higher than what is required under current guidelines. Janet McFarland discusses the survey results. “Boards typically ask directors to own shares worth three times the value of their annual retainers. The review found, however, that a typical director with five years of service far exceeds the rules, holding three times more shares than required.”
A look at Director Independence in Germany, particularly in regards to Supervisory Boards within the country’s two tiered board system in light of recent oustings of CEOs at well performing German companies Siemens, VW and RWE.
A call for the establishment of Director Assessment Processes in Britain where “new research… shows that a quarter of FTSE 100 chairmen have little relevant experience of the industry in which they work”. Suggested that this could be a reason for poor share price performance. More on that here: “It’s not exactly a shock that a board advisory firm thinks boards should take more external advice. But most boardrooms remain fairly mysterious places, so improving accountability and transparency can only be a good thing.”
On the ownership of proxy agencies. On the importance of corporate governance of Kenya, whose Capital Markets Authority has disclosed that listed companies are not adhering to corporate governance guidelines. Mining companies’ poor corporate governance in Australia. Also from Australia, poor corporate governance standards for mid-cap firms revealed. On environmental sustainability as a corporate governance issue.
David Wilson, Chair of the OSC, profiled in The Toronto Star. And a “frank” interview with Claude Lamoureux in which the retired CEO of the Ontario Teachers Pension Plan “pulls no punches.”