Thursday, July 22, 2010

Investors encourage companies to abandon new governance code


Investors oppose annual re-election of board members

Companies are being asked to ignore new governance rules which require the annual re-election of board members, The Financial Times reports.

Released in June 2010, the code required companies to submit directors to for reelection each year, a move opposed by corporations and investors who fear the move would promote short term positions.

See full Article.