The boardroom Archive

Dec 18, 2017
EY: Audit committees face key challenges in 2018
Audit committees face a range of testing changes in the new year, ranging from revised revenue reporting and CEO pay disclosure to new regulatory leadership and US tax reforms. ‘As audit committees grapple with challenges and an evolving business landscape, many are seeking guidance to enhance their operating effectiveness to better serve as a strategic asset for the organization,’ according to an end of year review by EY’s Center for Board Matters. The...
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Dec 18, 2017
Boards lack awareness of overall company culture, research suggests
Corporate culture is increasingly being targeted as a means to ensure companies behave effectively, ethically and within the rules, but new research indicates that in many cases boards’ understanding of their company’s culture doesn’t extend beyond the upper echelons. Although 87 percent of directors in a recent survey say they have a good understanding of their company’s tone at the top, only 35 percent say they have a good understanding of the mood in the ...
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Dec 05, 2017
The Society for Corporate Governance has announced the passing of David Smith, who served as its president and CEO for almost two decades between 1991 and 2010.  Smith’s career before his tenure at the Society included serving as general counsel and a director at Federated Linen & Supply Company and as corporate secretary at Donaldson, Lufkin & Jenrette. Since 2010 he had worked as a corporate governance consultant. In June 2010, Smith was awarded ...
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Dec 01, 2017
CII seeks more Fed guidance for boards
The Council of Institutional Investors (CII) has urged the Federal Reserve to expand on its planned guidance for banks’ boards to include more direction in areas such as diversity and independence, amid a move to focus on their key duties. The Fed in August asked for feedback on a proposal tackling supervisory expectations for the boards of financial institutions including bank holding co...
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Nov 15, 2017
SSGA to focus on Canadian and Japanese board diversity
State Street Global Advisors (SSGA), which kicked off a high-profile campaign this year to boost the number of female directors by installing the Fearless Girl statue near Wall Street, is continuing its mission to make boardrooms more diverse by expanding its focus to Canada and Japan. SSGA intends to provide board diversity guidance to 1,200 companies in these two countries by the start of 2018. Of the 700 companies listed on Toronto Stock Exchange (TSX), 40 percen...
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Nov 14, 2017
SEC: Boards should determine shareholder proposal significance
A recent SEC staff release ahead of the looming 2018 proxy season expresses the view that the board of directors is generally in a better position to determine the significance of a shareholder proposal, Corporate Secretary sister publication IR Magazine reports. Staff Legal Bulletin 14I (SLB 14I) indicates that the SEC will now be looking to an issuer’s board of directors to ...
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Nov 14, 2017
UK companies urged to do more on diversity
Transparency is improving and companies in the FTSE 100 are on target to meet the voluntary goal of 33 percent female board representation by 2020 - but smaller firms in the FTSE 350 need to do more, according to a UK government-backed report. The Hampton-Alexander Review 2017 looks at 23,000 business leaders across 350 of the UK’s largest companies, Corporate Secretary sister publication IR Magazine reports. ‘With just under a third of FTSE 35...
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Nov 03, 2017
The week in GRC: Fed pick seen as steady on deregulation, and board diversity hires pick up among S&P 500
– The Wall Street Journal reported that, according to people familiar with the matter, General Electric (GE) executives did not notify the company’s board until last month about its regular flying of a spare business jet for its CEO, and didn’t tell directors GE had received an internal complaint about the practice several years ago. The board members w...
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Oct 03, 2017
Canadian governance pros happier with jobs, study finds
Canadian governance professionals are – on the whole – happy with the demands placed on them at work and with their pay, according to new research. A study by Global Governance Advisors (GGA) in partnership with the Governance Professionals of Canada finds that almost two thirds (64 percent) of those polled describe themselves as satisfied with their work-life balance. Eighty-four percent say they are satisfied with their compensation package. A smaller n...
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