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Do boards actually give a damn about shareholders?
John Berling Hardy suggests they don't.
'Executive remuneration packages have been designed in such a way that no matter what the roll of the dice, regardless of how catastrophic the economic fall-out from their decisions, the executives come out the winners. Bonuses, stock options, and golden parachutes have had the combined effect of indemnifying the executive against their own incompetence, and given them a Carte Blanche to use the company as their personal proxy. This could not have taken place without complicity at the board level, implying that the role of the boards of corporations, as the check on the performance of management, has been completely compromised.'
Check out the full article
'Persuasive Collusion. The Elephant in the Room'
ann
Read more Ecademy.com
Posted by Ann Andrews CSP, filed under Tool-box News and posted on 15/03/2010
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