Memo to the board from your permanent stockholders: all shareholders should respect the people who put the time and energy into governing companies. To enhance that respect, here are eight ideas that should be embraced in every boardroom in America.

Summary

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GOVERNANCE LEADERSHIP

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Memo to the board from your permanent stockholders: all shareholders should respect the people who put the time and energy into governing companies. To enhance that respect, here are eight ideas that should be embraced in every boardroom in America.

EVERY DECISION that you make as a director of a public company should be made with your permanent shareholders as your primary constituency.

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This statement serves as the foundation for how corporate governance is approached at Vanguard. As one of the largest index fund providers in the world, Vanguard owns 2-3% of nearly every public company in America. BlackRock owns a similar portion, as does State Street. In aggregate, these three firms and other indexers hold a sizable portion of the U.S. stock market and se...

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