NYSE forms “commission on corporate governance” to examine U.S. corporate governance

 

NYSE Forms “Commission On Corporate Governance” To Examine U.S. Corporate Governance - NYSE Brings Together Leading Experts To Create Dialogue On Governance Issues

01/09/09

NYSE Euronext (NYX) today announced that its subsidiary, the New York Stock Exchange, will form an independent advisory commission to examine U.S. corporate governance and the overall proxy process.  This advisory commission will take a comprehensive look at strengthening U.S. best practices for corporate governance and the proxy process.

The advisory commission will be chaired by Larry W. Sonsini, Chairman of Wilson Sonsini Goodrich & Rosati.  Mr. Sonsini chaired the former Proxy Working Group, formed by the NYSE in 2005.  Members will be announced soon, and will comprise experts in all aspects of corporate governance and the U.S. proxy system so that a wide variety of perspectives can be collected, including those of public companies, shareholders and institutional and individual investors.

“As an institution, we are uniquely positioned to bring together leading experts on important issues in order to create a constructive dialog in the financial community regarding corporate governance that will benefit issuers, investors and the overall market,” said Duncan Niederauer, CEO, NYSE Euronext.  “The creation of this advisory commission is consistent with our mission to serve the investing public.  We look forward to working with the advisory commission to achieve a better and more efficient governance and proxy process.”

This advisory commission will work with policymakers and other interested constituents to foster a comprehensive and constructive approach to corporate governance and proxy reform.  As an independent body, the views of the advisory commission will not necessarily represent the views of NYSE Euronext or its exchanges.