A few things have caught my eye in the past couple of days in relation to company directors and disclosure. The first has been a couple of articles in the Today
newspaper in Singapore. On Wednesday the paper covered a story
about the Singapore Stock Exchange (SGX) naming and shaming a number of former directors for failing in their role and responsibilities as directors of companies. Arguably those directors should find board room doors closed to them from here on in and now that their names are in the public domain this makes that much more likely. Today the paper has a story
about executive pay and the need for all listed companies in Singapore to be transparent, down to the last dollar, about how much directors are paid - the article names some companies it expects to be transparent who aren't. It also looks at compliance with the Code of Corporate Governance and how the 'comply or explain approach' isn't working when a blanket explanation about 'the highly competitive nature of the industry' is an easy get out.
The other interesting development is an online tool developed by Webb-site.com
in Hong Kong - the tool called 'Who's Who in Hong Kong's elite'. The tool identify who sits on which Statutory and Advisory Body in Hong Kong and which company boards they also sit on - connecting the dots.
The financial crisis has by necessity raised a huge question mark about who runs a company and how. Articles, actions by the SGX and websites like these can only help stakeholders determine answers to these questions.