VEA Vice Chair Nell Minow comments on the study showing directors do not think they are obligated to oversee management.

“Usually directors at least pretend to acknowledge their legal obligation to provide oversight of CEOs on behalf of shareholders,” said Nell Minow, who advises institutional investors on corporate governance issues at ValueEdge Advisors. “This acknowledgment that directors see themselves as corporate cheerleaders instead of skeptics whose job is to push back, question, and insist on better is further proof that shareholders will need to support more Engine No. 1-style challenges.”

Corporate Directors Say It’s Not Their Job to Monitor CEO: Study – Bloomberg