With this post, we would like to share what some of the biggest names in American business published in 2016.
Warren Buffett, Jamie Dimon, and more signed on to a list of suggested changes for companies to adopt, titled "Commonsense Corporate Governance Principles." From Alembeeks, we encourage institutional investors to read the letter.
The group said that companies need to change the way they are managing their boards of directors, reporting earnings, and interacting with major investors.
"Our future depends on these companies being managed effectively for long-term prosperity, which is why the governance of American companies is so important to every American," the group wrote in the letter.
"This diverse group certainly holds varied opinions on corporate governance," they wrote. "But we share the view that constructive dialogue requires finding common ground — a starting point to foster the economic growth that benefits shareholders, employees and the economy as a whole."
Here's the full list of people signing on to the letter:
· Warren Buffett, CEO of Berkshire Hathaway
· Jamie Dimon, CEO of JPMorgan Chase
· Larry Fink, CEO of BlackRock
· Mary Barra, CEO of General Motors
· Jeff Immelt, CEO of GE
· Mary Erdoes, CEO of JPMorgan Asset Management
· Tim Armour, CEO of Capital Group
· Mark Machin, CEO of CPP Investment Board
· Lowell McAdam, CEO of Verizon
· Bill McNabb, CEO of Vanguard
· Ronald O'Hanley, CEO of State Street Global Advisors
· Brian Rogers, chairman and CIO of T. Rowe Price
· Jeff Ubben, CEO of ValueAct Capital
While the group includes the head of a major bank, industrial leaders, and an activist investor, the letter says they all believe governance needs reform.
From Alembeeks Group, we fully support this dialogue and our Alembeeks VotingLab division helps asset managers to exercise their portfolios' voting rights and own fiduciary responsibilities according to the best practices.