In today’s briefing:
- Who Is More Culpable, “Independent” Directors or or Domestic Institutions that Bias To the Company?
Who Is More Culpable, “Independent” Directors or or Domestic Institutions that Bias To the Company?
- Surprisingly, about half of shareholders did not vote in favor of the shareholder proposal to remove outside directors who implemented practices that were problematic in terms of corporate governance.
- Domestic institutional investors are still unwilling to oppose the company even when, as in this case, there is a clear corporate governance problem with the company.
- It’s extremely difficult for these outside directors to fully fulfill their responsibilities as independent directors on a board composed of “independent directors” who are friends brought in by top management.
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