Renowned governance thinker and Harvard professor Lucian Bebchuk has submitted a letter to the Securities and Exchange Commission calling on the regulator to implement shareholder director nominations. According to Harvard Law School, Bebchuk—backed by 80 professors at 47 U.S. universities—has requested that the SEC give shareholders access to the proxy card. “We believe that providing shareholders with rights to place director candidates on the company’s proxy card, as the SEC proposes doing, would improve director accountability,” reads the letter.
Harvard Prof Calls for Shareholder Director Nominations
Lucian Bebchuk and his peers want the SEC to consider adopting increased proxy access to shareholders.
August 19, 2009