A taskforce set up by the Dutch government to look into corporate governance rules in the Netherlands has set out proposals including a six-month period for companies to respond to activist shareholders.
"As shareholders have increased influence they should also have greater responsibility, for example the responsibility to enter into a constructive dialogue with the company before they resort to more radical measures based on their statutory rights," committee chairman Jean Frijns said in a statement. The committee proposed the introduction of a response time of 180 days for a company facing shareholders seeking to change its strategy or dismiss the management board or the supervisory board.
The proposal ensures a level playing field between shareholders and management, said institutional shareholders' group Eumedion.
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