2010, ISBN: 9781234156121

RareBooksClub. Paperback. New. This item is printed on demand. Paperback. 254 pages. Original publisher: Washington : U. S. G. P. O. , 2010. LC Number: KF26 . B3956 2009f OCLC Number: (… Mehr…

RareBooksClub. Paperback. New. This item is printed on demand. Paperback. 254 pages. Original publisher: Washington : U. S. G. P. O. , 2010. LC Number: KF26 . B3956 2009f OCLC Number: (OCoLC)656296479 Subject: Corporate governance -- United States. Excerpt: . . . 11 nisms; third, by giving shareowners oversight of executive pay via annual nonbinding votes; and, fourth, by requiring disgorgement of ill-gotten gains. One technical suggestion. We recommend that legislation man-dating annual advisory votes stipulate that these are a nonroutine matter for purposes of New York Stock Exchange Rule 452. Fourth, Congress should mandate that all corporate boards be chaired by an independent director. The council believes separating these positions appropriately reflects differences in the roles, pro-vides a better balance of power between the CEO and the board, and facilitates strong, independent board leadership and func-tioning. In closing, empirical evidence from around the globe supports these reforms. The experiences in other countries and, where appli-cable, here in the United States are powerful evidence that these reforms are not harmful to the markets and, of note, these meas-ures do not reward short-termism. On the contrary, they are tools to enable owners to think and act for the long term. Thank you for your consideration of these important issues, and I look forward to answering any questions. Chairman R. Thank you very much, Ms. Yerger. EED Mr. Castellani. STATEMENT OF JOHN J. CASTELLANI, PRESIDENT, BUSINESS ROUNDTABLE Mr. C. Thank you. Good afternoon, Mr. Chairman, ASTELLANI Ranking Member Bunning, Members of the Committee. I am John Castellani, President of the Business Roundtable. The Business Roundtable has long been at the forefront of efforts to improve corporate governance. We have, in fact, been issuing best practice statements in this area for more than three decades. All of those best practice statements are driven by one principle: To further U. S. companies ability to create jobs, product service benefits, and shareholder value that . . . This item ships from La Vergne,TN., RareBooksClub<