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Board Member Nomination and Election

image of Board Member Nomination and Election

This report addresses the corporate governance framework and company practices that determine the nomination and election of board members. It covers some 26 jurisdictions  including in-depth reviews of four jurisdictions: Indonesia, Korea, the Netherlands and the United States.

English

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Implementing the OECD Principles of Corporate Governance in diverse institutional and legal conditions

This report is the fourth peer review and, as decided by the Committee at its November 2011 meeting, covers board nomination and election practices. As in past reviews, several jurisdictions are discussed in detail – Indonesia, Korea, the Netherlands and the United States – while other Committee participants are handled at a more general level.The topic has attracted significant public attention especially in view of the near universal interest in independent board members and the issue of protecting minority rights. Indeed, both the Asian and Latin American OECD Corporate Governance Roundtables have launched work in this area (OECD, 2011c).In addition, the financial crisis raised questions about the quality of board members and the selection/search process for suitable board members.Chapter 1 of the report synthesises the four in-depth studies before considering the wider set of jurisdictions that participate in the work of the Committee. The focus is how jurisdictions and companies implement the Principles (although this is seldom done literally) and how the principles have been (need to be) adapted to widely different institutional and legal conditions.

English

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