Charles Elson
Charles Elson
adopt believe campaign corporate disney fact given governance leader practices though view
Given the fact that the 'withhold' campaign at Disney is what started this whole brouhaha, I think it's appropriate that Disney adopt this standard, ... I don't believe this makes them a leader in corporate governance practices though I view it as a positive.
corporate discourage governance greater happy ignore levels negative nor opinion oversight seek view
I do not view this as a negative opinion from a corporate governance standpoint. It should not make those who ignore their responsibilities happy nor should it discourage those who seek greater levels of oversight of directors,
activism designed good increase term value view
It's a good thing. I view shareholder activism that's designed to increase shareholder value long term as positive.
people
At the time, people thought the Gilberts were like Don Quixote. But because of that case, it legitimized the use of the shareholder resolution,
awful restoring
That would go an awful long way to restoring confidence,
commit helping stick taking unless
Frankly, once you commit to a job, you should stick with it unless you have an extraordinary reason. You can dissent, but you are not helping by taking yourself out of the equation.
clear
From a shareholder standpoint, it's not a particularly clear pond.
allow contract employment generally issue original packages responsibility rests since size structured
Since severance packages generally are contractual, the issue is not the size of the severance package. The issue is why was the original employment contract structured to allow such a severance package? And that responsibility rests in the board.
anywhere boards director directors disney eight ordeal point realize themselves
No director anywhere from this point on would want to put themselves through this kind of ordeal that the directors at Disney just went through for eight years. Now boards realize they must be more independent and circumspect.
actual conflict consultant creates danger either perceived work
When a consultant does other work for the company, it creates either the actual danger or perceived danger of a conflict of interest. The consultant should either work for the board, or work for the company.
carries failure serious threat
Failure to be independent and failure to be circumspect carries a serious threat of liability.
board course decide percent whether
The board has to decide whether to sell. Thirty-five percent is a pretty big number. They have to decide if that's the right course or they may have a shareholder revolt.
based directors meet novel unique
It's a novel idea. Where it's unique is that if directors don't meet internally based targets, they get nothing.
fun took
It's going to be fun to watch. But the real story took place long ago.