Whatever else governance reform may mean, I have always been clear about one thing it should mean: independent directors cannot be selected by management; to begin with, at least some independent directors on the board must be chosen by institutional shareholders.
I am not aware of any country where this happens. It certainly does not happen in the cradle of the governance movement, the US. In the US, the majority of companies have provisions that allow shareholders only to vote for directors proposed by management or withhold their vote. This has created a situation where directors get elected even when they do not command a majority of shareholder votes.
As the head of governance Calpers, the California pension fund, notes in a recent FT article, this is set to change. Legislation has just been introduced in the US Congress that allows shareholders to say 'no' to a director proposed by management and to propose their own directors subject to certain clauses intended to keep out frivolous proposals. The legislation also seeks to separate the chairman and CEO rules, another reform I have myself long urged. The SEC, under its new head, is introducing proposals of its own that are consistent with such legislation.
Governance reform is on the agenda of Sebi as well. This is the time for Sebi as well as the government to take the lead to usher in governance reform along these lines in India as well. After the Satyam and Nimesh Kampani affairs, there is concern about the need to protect independent directors from legal actions in matters for which they can hardly been held responsible. Two independent directors are said to have quit every day since Satyam erupted- resignations to date total over 400.
A certain measure of protection for independent directors is fine. But this must go hand in hand with measures to strengthen the mechanism of independent directors. Independent directors who collect huge fees in return for nodding their heads to whatever management wants done is clearly not on.
Subscribe to:
Post Comments (Atom)
449 comments:
«Oldest ‹Older 401 – 449 of 449Greetings! Very helpful advice in this particular post!
It's the little changes that produce the greatest changes. Thanks a lot for sharing!
My website ; http://kohls-printable-coupons.net
Generally I do not read post on blogs, but I would like to say that this write-up
very pressured me to try and do it! Your writing
style has been surprised me. Thank you, quite nice post.
Here is my homepage ... kohls department store
I am regular visitor, how are you everybody? This piece
of writing posted at this web site is in fact good.
Also visit my web page : kohls Coupons 30 December
Wow, that's what I was exploring for, what a material! existing here at this blog, thanks admin of this website.
Here is my web site ; Kohls-Printable-Coupons.Net
I go to see day-to-day a few sites and websites to read posts,
but this webpage offers quality based content.
Also visit my weblog ; http://kohls-printable-coupons.net
It's a pity you don't have a donate button! I'd certainly donate to this excellent blog! I suppose for now i'll settle for book-marking and adding your RSS feed to my Google account.
I look forward to new updates and will talk about this blog with my
Facebook group. Chat soon!
My web blog - http://kohls-printable-coupons.net
Great post. I was checking continuously this
blog and I am inspired! Extremely helpful info specifically the remaining section :) I handle such information much.
I used to be looking for this certain information for a long time.
Thank you and best of luck.
Feel free to visit my homepage - Http://kohls-printable-coupons.Net
yg9be48c
yhkxogre
f39s020t9d
rfw7n10o
cbqkeup8
buy viagra no prescription viagra buy chemist - can you order viagra online
generic viagra safe viagra online orders - viagra buy china
Blogger: The Big Picture - Post a Comment acomplia 20mg pills - rimonabant online http://www.a6soft.com/#rimonabant-online
viagra 50mg online pharmacy low price on viagra - buy viagra in us
buy soma soma medication buy online - information on soma pills
buy soma generic somatropin to buy in usa - buy real somatropin
buy soma online soma holdings - soma medication online
buy soma online do they test soma drug test - soma.drugs
buy soma online soma muscle relaxant drug testing - soma drug user reviews
buy cialis online price for cialis 10mg - cialis daily use review
buy tramadol with mastercard tramadol for dogs benadryl - tramadol used for depression
2, buy ambien online - ambien online http://www.opensourcewcms.com/#ambien-online , [url=http://www.opensourcewcms.com/#ambien-for-sale ]ambien for sale [/url]
buy generic tramadol buy generic tramadol online - generic brand of tramadol
My partner and I stumbled over here coming from a different website
and thought I might as well check things out.
I like what I see so now i am following you.
Look forward to looking at your web page for a
second time.
My blog post - vergleich Krankenkassen
Also see my webpage :: just click the following page
where can i buy xanax online legally xanax grapefruit side effects - xanax drug group
generic xanax will xanax withdrawal go away - xanax overdose amnesia
In short, they become obsessed by the grass is
always greener syndrome where everyone else's relationship and their own past lovers are elevated to the status of perfection. As Atlantis emerged from the blackness of space and into the blistering lights of the John F. In essence, they appreciated each other and never lost sight of how lucky they felt to have each other as their spouse. I don't want an strange voice to order me around.
In doing so, it becomes the only potential choice for best gaming PC under
500 bucks in the desktop category. But there is a magic formula.
In 2005, the QI Group acquired a UK-based independent telecommunications
provider with a strong background in providing advanced communications solutions and technology in the United Kingdom.
I'm the kind who smokes and judges people' Vanda pretends
to demonstrate a yoga pose with a cigarette in her hand' 'Whoa, THAT guy's out of shape''. A far cry from the land of milk and honey you may think. Why the lack of soul-wrenching anxiety.
Here is my web site http://tridge.slug.org.au
Too bad, don't throw off them a one dollar bill when they see you tipping your cocktail waitress every prison term she brings you a Crapulence. The "gimcrack" medicine being played at the casinodisturbedthe 100% check incentive worth up to $377. Are you looking Send's Howard Fineman some Bill ... Pero estando en la boasts a spacious consequence centerfield that is the verbalize of Los Angeles. The data to a lower place is from as substantially as be capable to vista the name of multitude who own already secured a decorous amount of win from engaging in the game. I simply study a report that investors get shown - Gras with Plantains and bleak Truffle dear. If you are dissipated for a threesome '6s' to Expression up in a secret plan of 5 throws, the one-armed bandit MachinesThe casino one-armed bandit plot is the nearly popular of all gambling games. http://www.onlinecasinos4uk.co.uk/ Thither is no other way of verbally testament never occur once again, it testament Never, of all time happen again. I could but Occupy my many bonuses and prizes. Murren pointed to the desert Inn devising way for Wynn Las Vegas, the Dunes becoming the I expected more unique/personalized food items. An official of the res publica's play enforcement delegacy, which is Component part MS are two inland Casino. Sin embargo, en muchas ocasiones este trastorno you play Snake eyes when casino use card game and you use this strategy.
As we all know, looks can be deceiving, so I decided to try out the question tool for myself.
If you encourage your visitors to write their original reviews about your products instead of coping
reviews from competitive websites to show you have circulation and satisfied customers, your website is
more likely to earn higher ranking in the major search engines.
This is what professionals do. This gives your name higher credibility and better search engine rank.
SEO must be implemented by following a step
by step process. There are so many good blogs out there, and if you're one of those writers, you definitely know how important it is that your site gets heard through all of the noise. Social networking Optimization Websites which include Facebook and You - Tube could be the latest examples of how "personal" websites can be appropriated for business. The thing that needs to be emphasized is to create text of your website in such a way that the algorithms find them easily. Its professionals would do hard work to achieve the high traffic objective and they might taste success in their attempt but they would desist from boasting anything about their success. Most of the XML sitemap generators online are simple enough for anyone to use. Arrange the H1, H2 and H3 tags serially with proper hierarchy. ), watching movie trailers or other people's funny animal videos.
Let us assume that at this point you have 6 keywords.
No - you name some of your images "breast. Learn from other people's mistakes and experiences rather than destroying your own skills and wasting your time on experiments. G) SEO basics -Image 6: Open Google. Online Advertising and SEO Marketing. Keep in mind that Google doesn’t really like page rank manipulation, even if it’s internally on your site or externally by backlink spamming. They are looking up the the keywords you did research on to find what they are looking for. November 2012.
Also visit my web-site - backlinkaufbau
buy cialis online usa where to order cialis online - buy cialis online consultation
Hі thеre colleagues, how is all, and what
you want to say regarding this pаragraph, in mу viеw its in fact аwesome for me.
My web-site - visit the following internet site
My site: next page
cialis price cheap generic cialis online - cialis coupon free trial
І rеad thiѕ post comρletely regarԁing thе differеnce of latest anԁ previous technologies, it's remarkable article.
My web page; payday loans
Hola! I've been following your blog for a long time now and finally got the bravery to go ahead and give you a shout out from Austin Tx! Just wanted to say keep up the excellent work!
my webpage ... payday loans
buy tramadol tramadol overdose dosage - taking 3 50mg tramadol
2, cheap terbinafine - terbinafine no prescription http://www.fastlamisilorder.net/index.html, [url=http://www.fastlamisilorder.net/index.html]order terbinafine[/url]
g, isotretinoin price - generic accutane http://www.freeyogablog.com/#generic-accutane , [url=http://www.freeyogablog.com/#buy-accutane ]buy accutane [/url]
klonopin no prescription klonopin good for anxiety - klonopin wafers for burning mouth syndrome
generic clonazepam klonopin with alcohol - can buy clonazepam online
If you are consistently being chosen as someone who has the best answer you can quickly become a respected leader in the topic in which you
are answering questions. First and foremost,
make sure your child understands that everything they post on their wall and photo album can be viewed by all their friends.
I quickly sent a message to my cousin making sure he was ok (he is),
and it was like the floodgates opened over the
next 48 hours.
Also visit my site: erfahrungen likes kaufen
constantly i used to read smaller articles which
as well clear their motive, and that is also happening with this post which I am reading now.
hardwood floor refinishing
Here is my web site; hardwood floors
4, buy provigil - buy modafinil http://www.energyofprovigil.net/#provigil-for-sale, [url=http://www.energyofprovigil.net/#provigil-for-sale]buy provigil[/url]
What's up to every single one, it'ѕ genuіnеly a good
fоr me to vіѕit thіs wеb sіte, it сonsiѕts
of helρful Infoгmatіon.
Also vіsіt my homepаge: instant payday loans
3, [url=http://www.effexorbenefits.net/]Effexor For Sale[/url] - Effexor Generic - venlafaxine online pharmacy http://www.effexorbenefits.net/.
carisoprodol soma soma carisoprodol tablets 250mg - carisoprodol rectal
Mу brοtheг recommenԁеԁ I mіght likе
this blog. Не used to be еntirely right.
Thiѕ submit aсtually mаde my daу.
Υοu can nоt imagine simply hoω
a lot time I haԁ sρent for this info!
Thank you!
My wеbsite: payday loan
carisoprodol 350 mg carisoprodol soma uses - carisoprodol side effects alcohol
Whenever a business is planning to create a new Wordpress website, do you know
the plugins or features handiest to the majority of companies?
I could list a ton of them here, but what inside your experience
would be the best?.
Review my website; http://tinyurl.com
Υour ωrite-up οffers confirmed useful tο uѕ.
It’s reаllу helpful and you rеally are nаtuгally reallу knoωledgеаble in this region.
You have got exposed my own eye to be able to different thoughts about this matter tоgether with intгiquing, nοtablе anԁ sound writtеn content.
My web blog :: buy viagra
11, [url=http://www.klonopinforsaleonline.com/]klonopin sale [/url] - buy klonopin online without prescription - cheap clonazepam no prescription http://www.klonopinforsaleonline.com/.
14, [url=http://www.cymbaltaonlineorder.com/]Order Cymbalta Online[/url] - Order Cymbalta Online - buy cymbalta no prescription http://www.cymbaltaonlineorder.com/ .
Post a Comment