November 22, 2009
UTNE READER

Four Ideas for Reforming Corporate Governance Post-Enron

(Page 3 of 3)

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Marjorie Kelly Business Ethics magazine 
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4. Find truly knowledgeable directors: Employees, If we're tired of boards with 'no inkling' of what's going on, we should seek directors who have a clue. Who better than the people who work at a company every day? As directors, employees would be concerned with the long term and not next quarter. Since we don't import people from outside the U.S. to govern the nation, why export people from outside companies to govern them? If the problem is that CEOs will appoint cronies, make board elections a real horse race: allow persons to self-nominate and run, being elected one by one, not as a slate. In short, get some real governance going. If Sherron Watkins had been on the Enron board, the whole scandal might have been averted.

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Marjorie Kelly is editor and publisher of Business Ethics magazine (www.business-ethics.com) and author of the recently published The Divine Right of Capital (Nov. 2001, Berrett-Koehler). This article may be reprinted without charge as an opinion piece in newspapers, on websites, and in newsletters. Feel free to distribute it to friends via email.

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