Corporate law firm Weil, Gotshal & Manges released yesterday its advisory report on the challenges facing public corporations in the current economic climate as relate to compensation, shareholder relations, audit, and general governance principles.
The report, “Weil Briefing: SEC Disclosure and Corporate Governance,” details the challenges facing public companies in light of the recent financial crisis and upcoming proxy season. The report consists of separate sections relating to: risk oversight and shareholder relations; compensation; financial reporting; and general preparations for the annual shareholder meeting.
Included in the briefing is advice for the financial reporting implications of the ongoing recession, such as new risk factors and SEC disclosure. Also included is a lengthy appraisal of developing compensation factors, such as clawbacks, golden parachutes, and structural changes to stock options packages.
Weil, Gotshal & Manges is a global law firm with 20 offices in Europe, Asia, and the Untied States. Its publications can be found here.