Corporate Board articles from May 2009

Corporate Board archives from May 2009

Financial reporting in a time of crisis.
May 1, 2009... As market participants and regulators react to the current world financial crisis, James Turley, chair of auditing powerhouse Ernst & Young, notes that his profession has long been a voice calling out for financial responsibility--and is now a...

Ten reforms for compensation committees.
May 1, 2009... For years, board compensation committees have assured themselves that their executive pay plans did a good job of matching pay to performance for sound results. Yet our economic crisis has led many directors to ask fundamental questions about...

Best practices for board communications.
May 1, 2009... This annual meeting season will see investors hungry for answers as never before--and often angry about stock price meltdowns. Increasingly, shareholders are looking beyond the chief executive to the board of directors for assurance. Has your...

The board role in turbulent times.
May 1, 2009... The economic turmoil facing the world economy has no doubt closely focused the minds of board members and their chief executives. Less attention, however, has been paid to how this time of stress is changing the way boards work, and their...

The financial crisis has prompted audit committee members to change their oversight.(Audit)
May 1, 2009... KPMG's Audit Committee Institute (ACI) hosted the Fifth Annual Audit Committee Issues Conference in February. In total, 150 audit committee members and leaders in corporate governance from around the country discussed the challenges and...

Delaware Court rejects an expansion of director fiduciary duty.(Liability & Litigation)
May 1, 2009... On February 24, 2009 the Court of Chancery of the State of Delaware issued an important opinion dismissing all but one claim in a shareholder derivative action seeking to recover for Citigroup Inc. its losses from exposure to the subprime...

A "code of conduct" for proxy advisors is proposed.(Shareholder Relations)
May 1, 2009... The Millstein Center for Corporate Governance and Performance at the Yale School of Management has proposed steps to boost transparency among institutional investors and the proxy voting services that advise them on relations with corporations....

Ten years ago in The Corporate Board.(Retrospectives)
May 1, 2009... Just as cooperative relationships with investors generate more total wealth for those willing to share information and control, the same is true for employees. Stock alone acts as a temporary incentive which often will not sustain increased...

Books received.(Bibliography)
May 1, 2009... Hit the Ground Running. By Jason Jennings. Portfolio. $25.95. Consultant Jennings looks at cases where new CEOs quickly transformed companies for the better at the start of their tenures. The Power of Who. By Bob Beaudine. Center Street....

Recent board elections.(Directors' Register)
May 1, 2009... Allos Therapeutics, Inc. has elected to its board David M. Stout, former president, pharmaceuticals at GlaxoSmithKline plc. AMERIGROUP Corporation has elected to its board Emerson U. Fullwood, former executive chief of staff of Xerox...

Jerry Finger: battling the Bank of America board.(Conversations)(Interview)
May 1, 2009... Proxy season 2009 has been one of the ugliest in history for battles between shell-shocked investors and defensive boards of directors. Investor, activist, and career banker Jerry Finger, owns over one million shares in Bank of America. As...