Corporate Governance | Business Roundtable

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mhall@brt.org

    

What is Business Roundtable

Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies working to promote sound public policy and a thriving U.S. economy.

More Than Leaders. Leadership.

Business Roundtable is an association of chief executive officers of leading U.S. companies working to promote a thriving economy and expanded opportunity for all Americans through sound public policy.

About BRT

As business leaders representing every sector of the American economy, Business Roundtable members uphold the highest standards of ethics, integrity and sound governance. Our CEO members represent the best in responsible corporate citizenship, supporting jobs and long-term economic opportunity in communities across the United States.

Read our comments on regulation.

Business Roundtable Supports Move Away from Short-Term Guidance

Business Roundtable today announced its support for companies moving away from an expectation of providing quarterly earnings per share guidance and potentially dropping such guidance in the future.

Amicus Brief on Preserving Federal Jurisdiction in Securities Litigation

Business Roundtable and the Society for Corporate Governance filed an amicus brief with the U.S. Supreme Court on Sept. 5, 2017, in Cyan, Inc. v. Beaver County Employees Retirement Fund supporting continued federal jurisdiction in securities class-action litigation.

Business Roundtable Amicus Brief in CalSTRS v. Alvarez

On September 7, 2017, Business Roundtable filed an amicus brief in the Supreme Court of Delaware in the case of California State Teachers Retirement System et al. v. Aida M. Alvarez et al., arguing that the court should reject a decision by a lower state court (Chancery Court) that could potentially expand the number of derivative stockholders suits filed in multiple states.

Business Roundtable Comments on FAST Act Modernization and Simplification of Regulation S-K

Business Roundtable appreciates the opportunity to comment on the Securities and Exchange Commission’s (the “Commission” or “SEC”) proposed rule—FAST Act Modernization and Simplification of Regulation S-K (the “Proposed Rule”).

Business Roundtable Letter in Support of H.R. 4015, Corporate Governance Reform and Transparency Act

The Honorable Jeb Hensarling
Chairman
Committee on Financial Services
U.S. House of Representatives 
Washington, DC  20515
 
The Honorable Maxine Waters
Ranking Member
Committee on Financial Services
U.S. House of Representatives
Washington, DC  20515
 
Dear Chairman Hensarling and Ranking Member Waters:
 

BRT Letter on the Core Principles for Regulating the U.S. Financial System

On behalf of the CEO members of Business Roundtable, we appreciate the opportunity to provide our comments on the Core Principles for Regulating the U.S. Financial System outlined in Executive Order 13772.

Business Roundtable Letter on Reforming Shareholder Proposal Process

We believe constructive shareholder engagement is vital to the successful operation of public companies. The importance of this relationship drives the need for a shareholder proposal process that is robust, productive and oriented toward long-term value creation for all shareholders. That is not the case today.

Comments to SEC on Reconsideration of CEO Pay Ratio Rule

Business Roundtable believes the CEO pay ratio rule should be changed to exclude employees located outside of the United States in determining the median employee. Doing so would create a more consistent common denominator in the many variables that exist in formulating the ratio. In addition, BRT suggests that non-full time employees be exempt from the rule to provide some protection against distorted results.

Business Roundtable Announces General Counsel

Business Roundtable today announced that Liz Dougherty, currently a partner at Jones Day, will become General Counsel and Corporate Secretary for the CEO-member association, effective July 19. Business Roundtable also announced that Maria Ghazal, an 11-year veteran of the organization, has been promoted to Senior Vice President and Counsel.

Statement for the Record for Hearing on Corporate Governance

America’s business leaders have long called for a smarter, more effective approach to financial regulation that focuses on limiting systemic economic risk while continuing to enable U.S. businesses to innovate and grow.

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Committee Priorities

Corporate Governance

Business Roundtable promotes best practices in corporate governance that focus on long-term value creation, advance the economic interests of workers, shareholders and consumers, as well as uphold the highest ethical standards. America’s business leaders set the standard for effective, ethical corporate governance in the Business Roundtable Principles of Corporate Governance.

Smart Financial Regulation

Overly complex and burdensome U.S. financial laws and regulations hamper the ability of U.S. companies to invest and hire, without sufficient compensating social benefit. In particular, several provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act impose needless requirements that do not result in economic benefit for American workers and families.

Business Roundtable supports smart financial regulation – including improvements to Dodd-Frank – that encourage greater investment and advance America’s competitiveness in the global economy.

Read more about our work to improve Dodd-Frank.

Shareholder Engagement

Business Roundtable believes that constructive engagement with shareholders benefits both businesses and their investors. The importance of this relationship underscores the need to modernize the shareholder proposal process so that it is robust, productive and oriented toward long-term economic value creation. Business Roundtable has offered recommendations for modernizing the process in Responsible Shareholder Engagement and Long-Term Value Creation.