What should we call the looming changes in how directors are elected and overseen at public companies? A seachange? A paradigm shift? A whole new ballgame?
Any of the three convey a rudimentary sense of what’s coming, but those phrases are overused and hackneyed. Worse, none capture the truly profound dislocation of what used to be a pillar in corporate structure. And they certainly don’t begin to suggest how directors and companies need to respond.
Consider that in just the last three years, we’ve seen widespread adoption of the majority-vote standard to elect corporate directors, and a 150 percent increase ...