NEW YORK: US chief executives, labouring under scores of new rules to prevent future corporate catastrophes like WorldCom and Enron, are digging in, unwilling to cede more ground to corporate governance reformers.
New battle lines have been drawn – a year after costly scandals drove the stock market to five-year lows and crippled institutional and retail portfolios – in the debate over a proposed rule change that would give shareholders a much greater say in nominating directors.
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