U.S. District Judge Jon Tigar's decision to allow plaintiffs to sue Wells Fargo’s directors personally was a chilling reminder that executives aren’t the only ones who can be held accountable for corporate misconduct.
Boards looking for support from BlackRock will have to place a priority on ESG issues and diversity moving forward.
Well-documented board minutes are critical. Yet, much confusion still exists about the appropriate level of detail.
Recent scandals demonstrate that too many corporate boards take too much of a hands-off approach, in turn allowing wrongdoing to build and eventually explode.