Governance News — 26 November 2013
Governance News from Minter Ellison summarises the top headlines in corporate governance this week.
A new report by Macquarie Equities shows stronger returns for companies whose directors hold shares than for companies whose boards are without ‘skin in the game’. Other research reported on this week indicates that Australian directors have more confidence in the government but red tape remains a concern; optimal board tenure may be nine years; and there are important differences in the composition of boards depending upon a company’s stage in the corporate lifecycle.
Also, there have been further developments on the issue of board gender diversity, with the chief executive officers of Aurizon, Super Retail Group and Bank of Queensland giving their support to the Male Champions of Change campaign; Germany set to introduce a legislative quota for women on boards; and the European Parliament voting in favour of a draft law designed to improve the gender balance on listed company boards…
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The NSW Supreme Court decision in Video Ezy International Pty Ltd v Sedema Pty Ltd demonstrates that courts are prepared to take a tough line on franchisors.
The Office of the Australian Information Commissioner has released the final version of the APP Guidelines in time for the start of the new Australian Privacy Principles.