Saturday, March 6, 2010

Corporate Boards Must Represent Sharholders Not Themselves

One of the best quotes ever seen on shareholder representation:

        “Up until now, it’s been sort of a Soviet system,”
said Stephen Davis, executive director of the Millstein Center for Corporate Governance and Performance at the Yale School of Management. “We have been operating in the United States under the myth that boards have been [first and foremost] accountable to shareholders."


Source: http://www.nytimes.com/2010/03/06/your-money/stocks-and-bonds/06money.html?adxnnl=1&ref=todayspaper&adxnnlx=1267889865-S0e5/ZLFbzs4rn4H+ZTWCQ

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