>Governance priorities for the new administration
The banking crisis and the state of the U.S. auto industry have investors looking more closely than ever at corporate management teams and the accountability of boards of directors. Hedge funds should act opportunistically now to advocate in the media, the board room, Capitol Hill and on Main Street for improvements to corporate governance.
For starters, Nell Minow, co-founder of The Corporate Library has posted her governance to-do list at Carl Icahn’s blog. Her priorities range from executive pay to board elections to regulatory reforms.
Also relatively new at The Icahn Report is Mr. Icahn’s United Shareholders of America intiative which promises to “push back against board entrenchment and make it easier for shareholders to promote change in companies they own.” People can “join” the campaign and receive email updates about its work.
Carl Icahn discussed corporate governance in an extended interview with the Wall Street Journal last Saturday.