The Centre for Corporate & Public Governance is interviewed in the current issue of Canadian Business on the subject of Canadian bank CEO compensation. As J. Richard Finlay noted in the article by John Gray:
Canadian banks may have fared better than their U.S. counterparts, but that has less to do with the individual performance of the company CEOs and more to do with restrictive Canadian banking regulations and the federal governments rejection of proposed bank mega-mergers.
The full article is available here.
The Centre for Corporate & Public Governance is quoted in this months AE Investimentos, the popular magazine for investors based in Brazil. The Centres founder, J. Richard Finlay, was interviewed at length during a question and answer session for his views on CEO compensation, a subject about which he is quoted regularly by media outlets world-wide.
Executive remuneration and its role in contributing to the excessive risks and leverage leading to the current credit crisis is placing boards and pay rewards under a microscope as never before. The interview is another indication of an increasing global interest in curbing pay abuse. Here is an excerpt from the interview:
H exatos seis anos, o presidente do Centro para Governana Pºblica e Corporativa no Canad, Richard Finlay, afirmava que a excessiva remunerao dos CEOs era a doena da vaca louca dos conselhos de direo nos Estados Unidos. œOs acionistas da Amrica corporativa esto sendo dizimados por esta enfermidade. A crise das hipotecas de alto risco mostrou que os conselhos ainda no compreendem totalmente a obrigao que tm para com os investidores. Como resultado de um sistema falido, que compensa excessivamente mesmo CEOs de baixo desempenho, estamos vendo o desafio mais srio enfrentado pelos mercados de capitais desde a Grande Depresso, diz Finlay (leia entrevista).
The Centre’s founder, J. Richard Finlay, is quoted today’s New York Post on the underperformance of Citigroup’s board of directors. His comments are expanded at Finlay ON Governance.
The Centre for Corporate & Public Governance, North Americas first fully independent think tank and advocacy forum for higher standards of governance, ethics and transparency in major corporations and public institutions, has received numerous inquiries from major media outlets for its views on developments on Wall Street and the factors that have contributed to recent financial turmoil.
It is the Centres view that the crisis, which has approached an historical inflection point in economic and banking disorder unseen in generations, is the predictable result of systemic failures in corporate governance, avoidable weaknesses in regulatory oversight and excesses in CEO compensation which it has been commenting on and warning about for a number of years. Many of these issues have been canvassed and commented upon by the Centres founder, J. Richard Finlay, on his widely read blog, Finlay ON Governance.
You can browse his blog or go directly to his unique and timely insights under the categories Panic on Wall Street/Outrage on Main Street and Subprime Meltdown.
J. Richard Finlay was interviewed by Canadian Business magazine for a story on Biolvail and recent regulatory developments involving its founder and former CEO, Eugene Melnyk. The interview appears in the current issue of the magazine. Additional information on the subject is available at Finlay ON Governance.
The Centre for Corporate & Public Governance has received a number of inquiries regarding the boardroom practices of Bear Stearns in light of that firm’s recent collapse and sale to JPMorgan Chase. Key shortcomings in the governance and leadership culture of the investment bank are explored in a number of postings by J. Richard Finlay and are available at Finlay ON Governance.
