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Corporate governance

Corporate governance is defined as 'the rules and practices that govern the relationship between supervisory board, directors and management, shareholders, employees, banks, local communities and other stakeholders, and should ensure transparency, fairness and accountability of an organisation.' A good corporate governance regime is not just an ethical consideration, but is core to the efficient and accountable use of corporate capital. The importance of corporate governance is in general not denied by corporations, but in practice not always implemented and followed sufficiently. Surprisingly many corporations, even after corporate disasters, like Enron, WorldCom and Ahold do not meet with requirements of professional corporate governance. We are convinced that a key role should be played by legal departments in developing and implementing a corporate governance regime, all te more so as statutes, rules and regulations will be introduced to govern the markets to a far greater extent in the future. We would always welcome your queries and a further discussion with you at no cost to you. Should you be interested in a copy of the OECD Principles of Corporate Governance, please feel free to send us an email.

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