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.
We wrap things up in Las Vegas today with our “22nd Annual Executive
Compensation Conference.” We held our “Proxy Disclosure Conference”
yesterday. Here’s ...
3 hours ago
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