Picture this as a fresh governance requirement: Every corporate board must have a worker sitting on the compensation committee.
If that seems far-fetched, think again. Britain’s Labour party has cemented exactly that pledge into its manifesto for the May 7 general election, kicking off a season where politics—both in the United Kingdom and the United States, with our numbingly-long presidential campaign—is once again poised to upend settled practices. The last time politics drove corporate governance on a grand scale on these shores started with candidate Barack Obama’s promises in the 2008 presidential campaign. It culminated in 2010 with President Obama signing the Dodd-Frank Act. Now with the “silly season” again upon us, it is time to brace for a new round of politician and lawmaker activism.
