The Recurrent Crisis in Corporate Governance

Multibillion-dollar governance debacles have understandably created new demands for radical reform. A “zero-tolerance” environment is evolving for both directors as individuals and boards as fiduciary institutions. The days when “independent” directors could receive hundreds of thousands of dollars in “fees” for marginal investments of time and effort are over.

Yet although the current sense of urgency and accountability may be new, the underlying problems of corporate … [ Read more ]