In the Margins

Is Vanguard's board independent enough?

August 9, 2016

By The Philadelphia Inquirer

Many of those who signed the new "Commonsense Corporate Governance Principles" are both board chairman and also CEO, even though the guidelines discourage doubling those jobs. The principles state that "every board needs a strong leader who is independent of management" and suggest that boards without an independent chair should at least set up "a strong lead independent director with clearly defined authorities and responsibilities." At Vanguard Group, the same board that oversees the company also oversees the funds—and is headed by CEO Bill McNabb. Is McNabb's board independent enough? Read the original story from The Philadelphia Inquirer

 

 

Most Read

10 Things
10 Things...to read in summer 2024

It's the Summer Solstice, and that means that for most of us the sun is shining, temperatures are heating up, and longer days allow for pursuits ...

Top of the Agenda - Compensation
Fund board pay increases in 2023, MPI survey says

Independent mutual fund directors saw an increase in compensation in 2023, on average, although actual compensation levels and percentage adjustments in compensation continue to vary widely ...