We thought from the outset that the Prudential's attempt to bid for AIG's Asian business was a bid too far. Now some major institutional shareholders are said to try to effect changes in the Pru's executive suite.
But under a regime of proper corporate governance it would never have been possible for the management of a company to stray so far from the wishes of its shareholders. Permission to attempt a significant acquisition (or disposal) always be required beforehand. As a consequence the expensive replacement of senior management would also be unnecessary.
John blogged earlier this month about the governance implications of the
DOJ’s fraud enforcement initiatives. A report issued last week by the U.S.
Governm...
1 day ago
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