CEO Glenn Renwick

Read the daily newspaper or watch any mainstream news show on television and it seems clear that America’s concept of the corporation is under attack. In April this year much was made about reports that a majority of corporations are not paying taxes and everyone is familiar about the scandals of stratospheric executive salaries and bonuses of those who work for companies now asking for government bailout. Following the scandals of Enron,Tyco, and Adelphia among others, the Congress passed a...Read Full Story

Business.view The rewards of virtue Does good corporate governance pay? Studies give contradictory answers ONCE again, corporate-governance reform is back on the legislative agenda, not least in the United States. In 2002, after the scandalous collapses of Enron and WorldCom, Congress voted in the Sarbanes-Oxley act, which was intended among other things to beef up corporate risk-management. Now, the financial reforms being considered in Washington include several proposals intended to...Read Full Story

Submitted by puput on Thu, 04/08/2010 - 03:40 Business & Economics Corporate governance reform has become a global issue over the last decade. The Asian crisis in 1997 and corporate scandals such as Barings, WorldCom and Enron have highlighted the need for corporate governance reform at a global level (Demirag and Solomon, 2003). The passage of the Sarbanes Oxley Act of 2002 (SOX) was to respond to the accounting scandals mentioned above and several other large corporations. This regulation...Read Full Story

With the recent spike in options backdating scandals, the time has come to shift attention to advocating for bona fide improvements in the governance and oversight of executive compensation programs. Reforms are needed to protect against self-dealing by unscrupulous human resources, finance, legal and other executives involved in long-term incentive programs. Chief executive officers and chief finance officers, and in-house corporate lawyers are regulated by the Securities and Exchange...Read Full Story

The Securities and Exchange Commission filed civil injunctive actions against the former chief financial officer and former controller of Engineered Support Systems, Inc., respectively, alleging that they perpetrated a six-year fraudulent options backdating scheme. The action alleges they granted in-the-money stock options to themselves and to other officers, employees, and directors, without proper disclosure. The allegedly unlawful comp is approximately $20 million, $15 million of which was...Read Full Story

The corporate governance model that existed before the crisis may not be entirely broken, but it is certainly in need of a major overhaul. In recent weeks there have been several initiatives intended to disassemble the stalled engine, take a long, hard look at the oily mess within and then seek to reinvent it as something that actually works.Read Full Story

Corporate executive compensation has been a topic of discussion from the last few decades in the academic and research community. Corporations have ignored fair compensation policy for executives and upper level management with the argument that the over compensation is necessary to attract experienced and knowledgeable managers. The problem with this old argument is that it ignores the fact that corporate value is created by a team which includes employees, board of directors, mangers...Read Full Story

This is our group blog, which is unique because any Zimbio member can post an entry to it. Some members blog about recent news and trends related to the portal topic, others recount relevant personal stories. You can also comment on and rate existing blog entries, to voice your opinion and to help the community identify which members and entries on the portal are must-reads. Got an interesting idea or story to share with other members of this portal? Well, then put on your journalist's cap...Read Full Story