Rubio has proposed new legislation allowing shareholders to bring legal action against directors over “political conflicts of interest”.
The “war on woke” has entered the field of US corporate governance. The move comes from Florida’s Republican senator Marco Rubio, who has proposed legislation making it easier for shareholders to bring legal action against company directors for breach of “fiduciary duty” if they adopt corporate social policies that raise the “spectre of political bias”. In an article for the Harvard Law School governance blog, Rubio rails against elements of corporate America that have allegedly embraced the “woke revolution” reflecting the views of a “narrow, elite slice of the population against the views of the public as a whole”. These policy decisions, he argues, have “severed the once constructive connection between corporat