Spotlight on Boards

When I first got involved, CEOs appointed boards. Now, boards are supposedly independent from management. That’s better than it was but I’m trying to push boards to become dependent — on shareholders. With larger companies, most of which have adopted it, majority-voting means we can at least get rid of directors. That’s another step in the right direction. In our political democracy, founding documents declared that all men are created equal. Even though they certainly didn’t have the same legal rights, at least there was something they could point to in arguing for more democracy. Corporation governance is somewhat similar. The mechanisms look democratic. Hopefully, someday we’ll have greater accountability in both realms.