Putin said that in order to keep investors interested, the government will approve amendments on corporate governance that only focused on state companies rather than private ones.
The inference clearly being that those intent on wrongdoing are prepared to tolerate the high-sounding and well-meaning corporate governance restrictions only to the point where such regulations do not inhibit the making of a buck or the avoidance of a loss.
Yet slimming the board is not the only reform needed to improve corporate governance.
ECONOMIST: Japanese corporate governance: No country for old men | The
The bill for the benefits of an open global economy has arrived, and it can only be paid in greater global governance.
According to data from GMI, the New York City corporate governance research firm, only 3% of the largest publicly traded Japanese companies have majority independent boards.
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Yet, the need to fundraise also runs the risk of building a board that is focused only on numbers and not the governance or long term development of the organization.
Transparency and accountability are critical walls of a governance foundation that not only supports sound pay decisions but also adds structural integrity to the process of discussing compensation with stakeholders.
The EU's lawyers, moreover, have come up with a partial fix so that changes to governance rules will require only a vote by the 27 leaders, rather than a full revision procedure involving a convention, an inter-governmental conference and ratification in all 27 countries (including some referendums).
It means new habits of initiative and self-governance, and these come only with experience.
Across Asia, only a handful of companies have exceptional corporate governance practices.
We need a new approach to governance that includes more respect not only for students in need of high-quality education but also for taxpayers, that has less job-killing red tape, and that fosters a more productive work force.
In our case, the support of the mayor has been critical, and as one of the only large urban districts to adopt this change in governance of our schools, I believe that the District of Columbia public school system will be a model for urban school reform.
The commission's work on corporate governance, however, is due to begin only next month.
The European leaders state that the only way to solve the current crisis is more European governance.
While the drought was regional, the crisis only led to famine in southern Somalia, where a governance failure and lack of access obstructed international relief efforts.
During the 300 years between the Renaissance and the Industrial Age--years of astounding advances in science, art, literature and democratic governance--the GWP per capita grew only 20%.
Mr Icahn called the management's move - which was not put to a shareholder vote - "an example of poor corporate governance", and criticised the fact that only a third of the company's board is up for election by shareholders each year.
Market experts say these investors are still potential buyers of new offerings, but only by profitable companies with strong cash flow and proper corporate governance.
The only things it is committed to are "fair, open and accountable governance", and that its elected representatives vote according to their constituents and not at the direction of a political party.
Not only does it cost money to be active, but the benefits of improved corporate governance are spread among all shareholders.
In the event, Winters' vocal unhappiness at the governance of the CIO, that it was a discreet trading operation answerable only to Dimon, and whose deployment of the bank's precious capital could not be scrutinised by other senior executives, was one of the reasons he was pushed out of the bank in the summer of 2009.
Only under such conditions can the media fulfill its responsibilities, contributing to democracy and good governance.
These reforms will not only fix the problems we found in foreclosure processing, but will also correct failures in governance and the loan modification process and address financial harm to borrowers.
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Established last summer, the Trans-Sahara Counterterrorism Initiative (TSCTI) -- partnering the U.S. with nine African countries -- brings to bear the resources of the U.S. departments of Defense, State and Treasury along with those of the U.S. Agency for International Development, offering not only services such as expanded joint military training but also developmental assistance aimed at promoting good governance and encouraging the growth of civil society.
"The government is interested only in developing the market, " says Jamie Allen, secretary general of the Asian Corporate Governance Association, an independent, nonprofit organization.
The treasury points to the example of Ghana, which only last year completed its first democratic transfer of presidential power to an opposition party: better governance is meant to be one of the principal tests of suitability for American aid.
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