There are increasing calls for companies to create more board seats for minorities and women and for “board refreshment” to sweep away vestiges of the clubroom atmosphere. Yet many still express dissatisfaction with the quality of candidates and the make-up of even large corporate boards, especially in the US, which has been slower to hand shareholders rights that have been common elsewhere for years, thanks to standards like the 1992 Cadbury Code in the UK. Shareholders of companies around the world have long fought to get the basics of boardroom accountability right. ![]() ![]() A company spokesman says it is interviewing for one new independent director and will “consider additional board changes to meet longer-term needs”. “Its growth has long since outsized its governance arrangements.”Ĭhipotle argued it has a small, active and engaged board that has been fully involved in the food safety response, but that did not prevent 30 per cent of shareholders opposing the re-election of Patrick Flynn, who runs the committee in charge of nominating new directors. ![]() “Chipotle is in need of genuinely independent oversight now more than ever,” CtW wrote, complaining that one of the longest-tenured directors had been put in charge of overseeing food safety issues for the audit committee. There is a straight line between the ensconced position of many board members - the average tenure of Chipotle’s current directors is 13 years, five years more than the US average - and a “slow, superficial and unconvincing” response to the safety issues, according to CtW Investment Group, which represents union pension funds and wrote a thunderous public letter to fellow shareholders. A Financial Times analysis of data from the shareholder advisory group ISS Analytics shows US boards are “maler, staler and frailer” than their European counterparts, having directors who are older on average, stay in post longer and are less likely to be women. The company is emblematic, campaigners say, of how too many of America’s boardrooms are failing to protect investors’ interests. Some shareholders blame a stale, insular board of directors for failing to move fast enough or aggressively enough to deal with the crisis. Not by coincidence, the burrito chain has been the focus of one of the biggest corporate governance fights of 2016. A year later, customer numbers are still down sharply. The string of food safety problems at Chipotle Mexican Grill last year, including outbreaks of e-coli and salmonella, wiped 40 per cent off the company’s shares. US board composition: male, stale and frail Publicado por Financial Times, martes 16 de agosto de 2016. Sobre una capitalización de US$ 50 billones, los directores se mantienen en sus puestos por 6,9 años y las mujeres tienen una participación de 25%, en cambio los que tienen una valorización de US$ 500 millones permanecen en torno a 7,5 años. Las empresas más grandes tienden a tener directorios más diversos en género y una mayor renovación.La proporción de mujeres en los directorios sigue siendo baja. ![]() Una investigación publicada por FT.com que cubre a 45 mil directores en 5 mil empresas en 30 mercados, muestra que el sector energía tiene los directores de más edad (61 años), un año mayor que la media, y cuenta con la menor representación de mujeres (12%).
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