Corporate governance
Independent directors, quotas for women, chairmen to watch over chief executives… it is striking how much of the time spent talking about companies is spent talking about how they should be governed.
Whenever there is a corporate crisis – whether it is the fraud involving drinks company Guinness in the 1980s, or the collapse of investment bank Lehman Brothers in 2008 – the cry goes up for better oversight by corporate boards.
Corporate governance has been one of the most influential corporate movements of the past 30 years. The overwhelming drive has been to staff corporate boards with independent thinkers who can rein in hubristic chief executives and prevent company directors from succumbing to “groupthink”, the tendency ...
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