OMAHA, Neb. (AP) — Billionaire Warren Buffett and other prominent business leaders have released recommendations for improving corporate governance.
The list of best practices includes recommendations to choose board members from diverse backgrounds who are independent of a company’s management.
The group also suggests public companies should avoid the common practice of offering earnings guidance.
Buffett said on CNBC that forecasting earnings, which he doesn’t do, can lead to malpractice because executives have an incentive to tweak results just to match the CEO’s forecast.
The group’s full recommendations are available online at www.governanceprinciples.org.
Buffett says JP Morgan Chase CEO Jamie Dimon organized the group, which included General Motors CEO Mary Barra, General Electric CEO Jeff Immelt and several others.
- Posted July 26, 2016
- Tweet This | Share on Facebook
Business leaders offer list of corporate best practices
headlines Macomb
- Toasting three decades of success
- Volunteers needed for annual Macomb County Point-in-Time Count of homeless population
- Man arraigned on charges after allegedly hitting school safety officer and principal with vehicle
- MDHHS honors Michigan Adoption Day by celebrating newly adoptive families
- Group honors national court leaders
headlines National
- The business of successfully running an in-house department
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Justice Gorsuch writes children’s book about ‘Heroes of 1776’
- Companies use ‘deceitful tactics’ to market harmful ultra-processed products with ‘addictive nature,’ city’s suit alleges
- Lawyer accused of trying to poison her husband
- ‘Lawyers Gone Wild’? Filmmaker criticizes bar as he seeks ethics probe of serial killer’s daughter for alleged lie
