Think-tank criticises "oligarchy" of CEO chairmans

Combining the roles of chief executive and chairman creates corporate oligarchs and is just one example of corporate governance that may harm a firm's share price, a financial think-tank said on Wednesday.

The Chartered Financial Analyst Institute (CFA) launched what it sees as the first manual on corporate governance for investors worldwide, to help spot signs of governance issues that it says played a role in instances such as French media group Vivendi, Swiss food group Nestle and Italian dairy group Parmalat.

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