Posts Tagged 'David Berger'

NYSE Commission Report Defines Core Principles of Corporate Governance

by Scott Hirst for The Harvard Law School Forum, October 7th, 2010.

Editor’s Note: This post comes to us from David Berger, a partner in the litigation department at Wilson Sonsini Goodrich & Rosati, and is based on a WSGR Alert memorandum.

In the fall of 2009, the New York Stock Exchange formed a diverse and independent commission to examine core governance principles that could be widely supported by issuers, investors, directors, and other market participants. Chaired by Wilson Sonsini Goodrich & Rosati chairman Larry Sonsini, the NYSE Commission on Corporate Governance recently issued its final report, which was released by NYSE Euronext on September 23, 2010.

The report identifies 10 core governance principles covering such topics as the fundamental objectives of the board, management’s responsibility for governance, and the relationship between shareholders’ trading activities, voting decisions, and governance.

The principles outlined by the commission are a significant contribution to understanding the core duties and responsibilities of boards, management, and shareholders in the governance process, and provide an important framework outlining the common interests of these groups. 

Core Principles

The 10 core principles contained in the report are as follows:

  • The board’s fundamental objective should be to build long-term, sustainable growth in shareholder value for the corporation, and the board is accountable to shareholders for its performance in achieving this objective.
  • Management has a critical role in establishing proper corporate governance, as it has primary responsibility for creating an environment in which a culture of performance with integrity can flourish.
  • Shareholders have the right, the responsibility, and the long-term economic interest to vote their shares in a thoughtful manner, in recognition of the fact that voting decisions influence director behavior and conduct, and that voting is one of the primary means of communicating with companies on issues of concern. (continue reading… )

cgl-med-linked-in

cgl-med-linked-in

Blog coordinators

Leaders in Corporate Governance

cgl-med-linked-in

------------------------------------

Blog da Governança


(in Portuguese) A weekly chronicle about shareholders' rights & duties, activism and capital markets regulation, by Renato Chaves.
------------------------------------

Archives

October 2014
M T W T F S S
« Sep    
 12345
6789101112
13141516171819
20212223242526
2728293031  
free counters

Follow

Get every new post delivered to your Inbox.