At the time, people thought the Gilberts were like Don Quixote. But because of that case, it legitimized the use of the shareholder resolution.
More Quotes from Charles Elson:
When a consultant does other work for the company, it creates either the actual danger or perceived danger of a conflict of interest. The consultant should either work for the board, or work for the company.Charles Elson
Frankly, once you commit to a job, you should stick with it unless you have an extraordinary reason. You can dissent, but you are not helping by taking yourself out of the equation.
Charles Elson
It's a good thing. I view shareholder activism that's designed to increase shareholder value long term as positive.
Charles Elson
It's going to be fun to watch. But the real story took place long ago.
Charles Elson
A few years ago, something that appeared incorrect might not be changed. Today, with heightened concern over complete accuracy, the definition of materiality has gotten a lot broader.
Charles Elson
Because of a greater focus on governance, the resignation of a director certainly has a greater weight attached to it. Boards have greater power. In the past, directors just faded into the sunset.
Charles Elson
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