[The] proposed rules will disenfranchise shareholders, increase the costs of contested elections to the detriment of shareholder value, and further shift power and influence to shareholders driven by special interests and largely unregulated proxy advisory firms. As a final matter, as you know, Congress is currently considering legislation that would prevent a universal proxy requirement. We believe it is in the best interests of shareholders and corporate governance in the United States that the SEC wait for Congressional action on the matter before implementing its final rule on the subject.
U.S. corporations employ millions of American workers, create opportunity for employees and shareholders, drive innovation, improve the lives of consumers, and provide health care and other benefits to American families. The way corporations are governed directly affects the well-being of employees, shareholders and consumers.
Business Roundtable advocates for corporate governance policies that help create long-term value, advance the economic interests of workers, shareholders and consumers, and uphold the highest ethical standards.
Recent Activities in Corporate Governance
Business Roundtable today issued a new report that proposes specific solutions to improve the outdated shareholder proposal process.
America’s top CEOs detail how the shareholder proposal process has fallen out of step with corporate decision-making and capital markets today.
Business Roundtable President Details Solutions for Advancing Long-Term Economic Interests of Shareholders, Employees and Consumers
Business Roundtable President John Engler recently testified during the hearing, "Corporate Governance: Fostering a System that Promotes Capital Formation and Maximizes Shareholder Value."