Is the shift to stakeholder primacy real—or a PR exercise? Plus change at the top for the Institute of Directors; confirmation of the Biden–Harris ticket; and bad news for ESG.
Image: Lev Radin/Shutterstock
This week saw the Business Roundtable (BRT), a club for the largest corporations, mark one year since a landmark restatement of its members’ values from being “shareholder” driven to “stakeholder” led.
The Roundtable even launched an area of its website to parade its members' accomplishments at being stakeholder businesses. In a specially filmed address, its current chair, Doug McMillon, president and chief executive of Walmart, says the organisation “knew it wasn’t enough to change our statement, we needed to act.
“We needed to align BRT initiatives and priorities with all stakeholders in mind and, most importantly, bac
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda
Nearly two-thirds of investors say a proxy adviser should recommend voting against the election or re-election of a board chair if they are not “independent”, regardless of the overall independence of the board.