CategoryFrom the Advisors

What is a Proxy Voting Adviser and Why Do We Care?

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The release of the Conference Board report ‘Just What Is the Corporate Director’s Job?’ in the United States renewed attention regarding the role of the board of directors of a public company. It also raised a related question: just what is the proxy adviser’s job, and why do we care? The report suggests that proxy advisers perceive the board’s role as executing a series of tasks and lacking a...

Short-Term Focus is Chronic and Dangerous

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What is the goal of the public company’s board of directors? To maximize shareholder value, you suggest? I believe that is not only not correct, but it is one of the reasons companies end up in the hungry hands of the restructuring community. While it can seem heretical to argue that it is not in shareholders’ best interest to run the company that way, the impact of short-term focus is clearly...