Some commentary on the American CEO....
"Having served on 15 or 20 boards . . . I've seen the evolution of corporate governance over a long period of time and the one thing that I've become acutely aware of is how crucial the issue of what the chief executive officer believes and does is to governance," Mr Greenspan told Congress last week.
He said lax corporate governance was "largely a symptom of a failed CEO" and independent directors were essential. But the Fed chairman echoed business lobby groups' concerns when he told Congress to be careful not to "create a competing set of directors and conflicting sources of power that are likely to impair a corporation's effectiveness".
"Having served on 15 or 20 boards . . . I've seen the evolution of corporate governance over a long period of time and the one thing that I've become acutely aware of is how crucial the issue of what the chief executive officer believes and does is to governance," Mr Greenspan told Congress last week.
He said lax corporate governance was "largely a symptom of a failed CEO" and independent directors were essential. But the Fed chairman echoed business lobby groups' concerns when he told Congress to be careful not to "create a competing set of directors and conflicting sources of power that are likely to impair a corporation's effectiveness".
posted by Champion at 9:41 PM
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