Executive at shareholder advisory firm ISS says too many board members are lapdogs
Don't let his genial manner fool you. Short, bespectacled and soft-spoken, Patrick McGurn doesn't look like an imposing figure who strikes fear in corporate America. But there's good reason why he's been called one of the most powerful people on Wall Street.
As public furor over corporate corruption and exorbitant executive pay boils up, more shareholders are flexing their voting muscle. And McGurn, executive vice president and special counsel at Institutional Shareholder Services, can swing the votes of the nation's top money managers. Many of the pension funds and mutual funds that own most of the shares of U.S. companies are clients of ISS, which advises them on how to vote.
At stake is billions of investor dollars, the jobs of America's top executives and board members, and public trust in corporate America.
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