Tag Archives: corporate governance

Governance in motion

Insider: Anita Anand
May 17th, 2017

Who Anita Anand, professor of law at the University of Toronto and J.R. Kimber Chair in Investor Protection and Corporate Governance. Involvement In 2016, Anand was named the first research chair for investor rights in North America. She has a … Continue reading

Posted in Featured Slider, Insider | Tagged , , , , , , ,

Out with the old

Canada’s corporate governance guidelines, enacted in 2005, are woefully out of date. The world, and the world of governance, have changed dramatically since then. Worse, our deficiencies hurt and are holding us back
By Richard Leblanc
December 18th, 2014

In my teaching, research and consulting, I no longer use National Policy 58-201 Corporate Governance Guidelines (enacted June 17, 2005), which applies to publicly traded companies in Canada, as an example of exemplary corporate governance. I regard it as stale … Continue reading

Posted in Views | Tagged ,

Not yet in Canada? Pity

Proxy access is a corporate governance game changer that needs to take hold in this country. Its adoption would directly lead to better boards and better-performing companies
By Richard Leblanc
October 30th, 2014

I teach my students and counsel board clients that shareholders elect directors; directors appoint managers; directors are accountable to shareholders; and managers are accountable to directors. This is largely theoretical. Here is the reality: shareholders cannot select directors, cannot communicate … Continue reading

Posted in Views | Tagged , , ,

Insiders dish on deadwood directors

Not every board wants to hear it, but the message from the market, shareholders and savvy insiders is clear: renew your directors or others will do it for you
By Richard Leblanc
August 27th, 2014

Board composition is one of the most critical issues for companies and their shareholders today. This top-10 list of recommended practices—backed by candid commentary—is based on 40 recent director and executive interviews and ongoing advice and assessment provided to activist … Continue reading

Posted in Views | Tagged , , , ,

Turnover, not tenure, makes the board

Research shows that companies with excessively long-serving directors are relative underperformers. How much longer can boards run without third-party evaluations and term limits, knowing it erodes shareholder value?
By Richard Leblanc
December 13th, 2013

Many directors hang on to directorships for far too long. Recently, I counted several directors who have been on corporate boards for 10, 15, 20 and 25 years. Incumbent directors offer reasons for staying: how they know the company, enjoy … Continue reading

Posted in Views | Tagged , , , , , ,

Director removal: a five-point plan

There aren’t a lot of issues on which most shareholders and board members can agree. One exception: the need to make the process of removing directors from boards easier, no matter what the concern
By Richard Leblanc
September 18th, 2012

Don’t let the sensational headlines fool you. If it takes an activist hedge fund’s power to oust a few directors from a listed company board, then it isn’t happening all that often. Even when you include directors dropped by fellow … Continue reading

Posted in Views | Tagged , , ,