Recommendations
Boardroom Culture
- Create a new class of public directors
- Insist on greater gender, ethnic, experiential, and, most importantly, perceptual diversity
- Impose term limits on independent directors
- Limit directors to serving on three or fewer boards
- Require directors to put more skin in the game with meaningful equity purchases
- Initiate more communication between directors and shareholders
- Split the chairman/CEO role
- Allow shareholders to call Extraordinary General Meetings
- Add clout to say-on-pay
- Empower and encourage boards to gather independent information
- Explore lessons from foreign, nonprofit, and private company boards
- End the conflict of interest in mutual fund voting
- Require more disclosure in director elections
- Reform voting processes to end manipulation by management
Labels: recommendations
