Shareholders at the Gates; Corporate Governance  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 406 no. 8826 (Mar. 2013), page 59-60.
Topik: Shareholder Activism; Corporate Governance; Activists; Economic Crisis; Public Opinion

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.75 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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So much for gratitude. In the past financial year, Walt Disney delivered everything you might expect from the owner of a Magic Kingdom. Bumper profits, a well received acquisition of Lucasfilm, prospects that everyone agrees are better than ever. No wonder that shares in the entertainment conglomerate are at an all-time high. In almost any other year, Bob Iger, Disney's boss, could have looked forward to unstinting gratitude from shareholders at the firm's annual meeting on March 6th. Instead, shareholder activists, grumbling that Disney is in danger of becoming a "tragic kingdom", made a determined though unsuccessful attempt to strip him of one of his titles by voting to split the roles of chairman and chief executive. Shareholders used to mount such campaigns only at firms that were performing horribly, as happened towards the end of the reign of Michael Eisner, Mr Iger's predecessor. But since the financial crisis of 2008, which revealed widespread flaws in corporate governance, shareholders have flexed their muscles more often. Public outrage over high executive pay, regulatory reforms to give shareholders greater power and more scrutiny of how they use that power have created a climate in which even the most profitable companies can be targets of activism if their corporate governance is not up to scratch.

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