VEA Vice Chair Nell Minow is quoted in an article looking back on the 20th anniversary of the collapse of Enron.
“Unquestionably, boards are sharper, more independent, more focused, and more engaged,” says Nell Minow, vice chair of ValueEdge Advisors and a longstanding critic of poor governance and campaigner for shareholder rights. Still, since 2001, the message of the Enron affair about compliance and good governance “may have lost its sizzle”, lawyer Michael Peregrine and governance professor Charles Elson have warned in a post for Harvard Law School. The pendulum risks swinging back towards over-mighty executives. Minow likens regulatory attempts to improve governance to a race between safe-makers and safe-crackers: “Each time you make a better safe, they come up with better tools.”The queasy ‘Enron feeling’ that directors must never ignore | Financial Times