What Were They Thinking?
The recession that started in the US in December 2007 caused more devastation across the globe than we can even care to imagine. “We failed to constrain the financial system’s creation of private credit and money”, concluded the former chairman of the UK’s Financial Services Authority, Lord (Adair) Turner in 2013. Today it is still impossible to ascertain how many more years will be needed for a full recovery, not to mention that recovery is no longer a choice for millions of people whose future has been destroyed. Is Corporate Governance about Societies??? Damn right it is!
What if there was a way to reset the thinking of Board Directors toward acknowledging that beyond protecting and multiplying shareholder value they have the GREATER responsibility to protect the society at large? Would you endorse it?
