How often have you heard this corporate governance mantra: “We don’t want one-size-fits-all rules”? Instead, we want boards to exercise judgment, shaping practices to their company’s particular needs.
We hear that formulation from institutions as varied in their philosophies as the Chamber of Commerce—which generally opposes proposed legislation, listing rules, and proxy advisor guidelines on corporate governance—to the $650 billion asset manager Norges Bank, which recently called for “fit-for-purpose” governance taking into account the particulars of a company and its market.
