It is exceedingly rare for a director to be removed from a board. Only 2% of directors who step down are dismissed or not reelected, according to Stanford researchers. The vast majority of directors are re-elected and continue serving, in …
Recent Posts
- The Corporate Governance Game Changer That Needs to Come To Canada
- A rebuttal to Terence Corcoran’s “OSFI and the bureaucratization of corporate governance”
- Richard Leblanc: Ten reasons that pay governance is broken
- Richard Leblanc: Ten Corporate Governance Trends for 2014
- Gender diversity on boards: My discussion notes
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- TheRacetotheBottom.org
- Truth on the Market
- Weinberg Centre For Governance Blog
The Penn State Report and 8 Must Dos for University Boards
The Penn State board of trustees did not escape blame in Louis Freeh’s 162 page report released this week. See the PDF summary here and pages 97-103 of the full report here on findings for the Board of Trustees. The …
Train wreck RIM and its dysfunctional board: Critics weigh in
New RIM CEO Thorsten Heins is in denial (see “RIM CEO Welcomes Critics to Happy-Fun Rainbow Land”). Investors view the company as in a death spiral. It has lost 95% of its value and is laying off 1000s of employees. …
Eight Traps of Boardroom Diversity
There are myths and vested interests in the movement towards boardroom diversity now underway in several countries. In this first of two blog posts, I consider the “traps” and embedded myths. In the second blog post to follow, in about …
Should Barclays’ Former CEO receive £17M in Compensation After the Libor Rate-Rigging Scandal?
Compensation drives behavior. As reported in The Telegraph, the Barclays’ board of directors intends to “ask” former CEO Bob Diamond to “cut” part of his £17M pay package in the aftermath of Diamond’s role in artificially suppressing the rate at …
Shining a light on NHL governance and concussions
Hundreds of former players are suing the National Football League and equipment manufacturers for head injuries and other damage, saying concussion data was ignored by the league and it had a duty to protect players. This litigation could be precedent …
Labatt has a right to protect its brand and image
Let me defend Labatt for a moment. A media outlet – or anyone else – cannot as a matter of law publish a photograph containing a Labatt product or logo without permission of the trademark owner, and certainly not a …
Shareholder Spring and A New Model of Corporate Governance
Shareholder activism at CP Rail, Yahoo, Research in Motion, Chesapeake Energy and BMC Software continues, trying to prevent the destruction of billions of dollars of shareholder value. Shareholders rejected Citigroup’s, Aviva’s, Knight Capital’s, FirstMerit’s and Cairn Energy’s executive pay packages. …
Bribery, Cyber-Security and Derivatives: Is Internal Audit up to the Task?
Do internal auditors have the resources, skills and authority necessary to do their job? I wonder. I was asked recently to be an expert witness in an alleged bribery case. Internal audit is one of the first places I look …
Derivatives May be Ungovernable
The recent loss of 2Billion dollars by JPMorgan confirms what is now a blindingly obvious governance reality. Board of directors do not understand derivatives and cannot control management’s use of them. The same may be said for regulators. One job …