These changes would enhance the ability of corporate boards to govern corporations in the interests of shareholders.
They address the two issues related to governance that we have failed to address thus far:
management has too mush influence over the composition and conduct of corporate boards;
corporate board members are not competent and/or independent enough to prevent opportunistic management behavior at the expense of shareholders.
Something more must be done to enable corporate boards to fulfill their responsibilities as powerful and knowledgeable shareholder advocates.