Shareholder Activist Robert Monks: Corporate Governance Still Lacking

by Seeking Alpha, February 3, 2010.

Corporate governance is a subject attracting much rhetoric and little change. With governance failures responsible in large part for corporate disasters, new and old, we find Robert Monks‘ commentary on the subject, and his efforts to change the status quo, a beacon of hope. Shareholder activist and corporate governance advisor Robert Monks recently gave a speech at Harvard Law School about the state of corporate governance. The entire speech was recorded (including the Q&A with students). Please click here to view the video.

We found the following passages from Mr. Monks’ speech especially illuminating:

  • Three quarters of registered shareholders are fiduciary institutions.
  • We can no longer blindly accept the received wisdom as to the roles and responsibilities of owners, directors and CEOs. Categories simply do not perform as advertised.
  • It is naïve to think and act as if the current arrangement of power is not satisfactory to many who hold it. Our efforts will be a struggle for reallocation of that power…(continue reading)

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