Holly Gregory of Weil, Gotshal & Manges LLP posted on The Harvard Law School Corporate Governance Blog about the release of Key Agreed Principles for Strengthening Corporate Governance by The National Association of Corporate Directors, with the support of the Business Roundtable.
The Principles identify the core areas that boards, management and shareholders agree should be the basis for good corporate governance and cover topics including independent board leadership, protecting against entrenchment of the board, shareholder participation in corporate decision making, and board communication with shareholders. In recognition of the legitimate concerns that exist about the rigid and prescriptive use of best practice recommendations by some proponents, the Principles are intended to reflect a distillation and articulation of fundamental principles-based aspects of governance on which there appears to be broad consensus. They are also intended to stimulate informed debate about issues on which consensus does not yet exist.
- Key Agreed Principles for Strengthening Corporate Governance. (content was moved and link died)
- A comparison of Significant Views on Corporate Governance Best Practice, which is Appendix A to the report.
- A comparison of Sarbanes Oxley, SEC and Listing Rule provisions related to the composition and functioning of the board of directors of a publicly traded company.