Bob Mundheim, of counsel, and John Cannon, partner in Shearman & Sterling’s Compensation, Governance and ERISA Group and co-chair of the firm’s Corporate Governance Advisory Group, together with Simon Lorne, vice chair of Millennium Partners, L.P., facilitated a discussion among corporate directors and executives, investors, academics, lawyers, former regulators and corporate governance professionals from multiple jurisdictions on “The Corporate Balancing Act: How Can Directors Manage Conflicting Pressures?” at the Salzburg Global Forum on Corporate Governance held in Salzburg, Austria.
The Forum, which took place from September 29-October 1, 2016, was organized under the auspices of the Salzburg Global Seminar, a catalyst for global engagement on critical issues in education, health, environment, economics, governance, peace-building and more. Shearman & Sterling is a sponsor of the Forum, with Mundheim, Cannon and Lorne helping to develop programs through leadership of the Advisory Committee.
Cannon’s session, which focused on the challenges faced by directors of publicly held corporations in guiding and overseeing management, featured a discussion on diversity and independence on boards, and what makes a board effective. In an interview conducted by the Salzburg Global Seminar, Cannon remarked, “Anglo-Americans have dominated the conversation on what is good corporate governance. How other companies approach corporate governance with a greater regard for stakeholders other than shareholders is something that in America we’re recognizing more and more.”
Read Cannon’s full interview.