Our culture of raiders truly needs strong challenge. Our corporations are resources to be well managed rather than prizes to be pillaged.
Simon Caulkin: It’s time to explode the myth of the shareholder | Observer
“the entire notion of the shareholder has to be rethought.
“In an age when a listed company’s share register suffers 90% churn each year, the very concept of “the shareholder” dissolves, corporate governance expert Professor Bob Garratt told a recent meeting of the Human Capital Forum. Calling for a ‘cultural and behavioral transformation’, Garratt declared that the first duty of directors was not to shareholders, but to the company itself.
“…to move from agency theory to stewardship theory…”