You maintain that the current governance platform needs more in order to increase share value. What “more” is needed?
New York business solutions, governance, restructuring & bankruptcy attorney Martin Bienenstock of Proskauer Rose discusses how to increase share value through governance.
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I actually borrowed that and I endorsed and adopted it from a book by Ira Millstein and Paul MacAvoy called The Recurrent Crisis in Corporate Governance, which was published in 2003. After all the improvement that they created, share value had not increased because the evolution of the board and governance concentrated on preventing the CEO from controlling the board but not on improving the business. So the more is to put business principles into the board agenda so they can focus more time and attention in some cases for the first time focus largely on improving the business and the share value than on protocol.