Corporate America has made some progress in cleaning up its governance, but overly high compensation levels for chief executives show that much remains to be done, says Nell Minow, editor, founder and chairman of the Corporate Library, a research group based in Portland, Me. Here are excerpts from a conversation:
Q. How do you assess the progress in corporate governance since Enron imploded?
A. I have a "best of times, worst of times" perspective. Some things are much better than I ever dreamed. In other areas, things have been disappointingly slow and in yet other areas, we've gone backward. Probably the most important change is in the boardroom. Boards of directors are universally taking the job more seriously and doing a better job. It wasn't that long ago that O. J. Simpson was on an audit committee.
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