Deals and People June 20, 2002

Conference Board Panel Examines Governance Issues

June 20, 2002 (PLANSPONSOR.com) - An influential business research group is jumping into the continuing post-Enron fray over corporate governance standards by appointing a blue-ribbon board to develop governance guidelines.
Reported by

According to The Conference Board, its advisory panel will examine executive compensation and auditing standards, a Reuters news report said.

Among those set to serve on the board are:

  • former Federal Reserve Chairman Paul Volcker
  • Arthur Levitt, former Securities and Exchange Commission chairman
  • John Biggs, the president of TIAA-CREF

Earlier this month, the New York Stock Exchange (NYSE) unveiled its proposals to restore credibility to financial markets rocked by a series of accounting scandals in the last few months. The NYSE proposed requiring shareholder approval for executive share and option grants and that a majority of corporate board members be independent.

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Stocks have slumped in the last few months, battered by a loss of faith in corporate financial statements after Enron collapsed amid a heap of debt and murky accounting.

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