Aficionados of good corporate governance shouldn’t get too excited about the fact that two Hewlett-Packard directors are leaving the board and a third, Raymond J. Lane, is stepping down as chairman.
The reason is that directors are still rarely if ever held responsible for their poor conduct.
The latest evidence comes from a study of bank directors and whether shareholders held them accountable for their – let’s face it – horrific performance after the financial crisis.
via Little Accountability for Directors, Despite Poor Performance – DealBook
