Directors must meet this challenge by focusing not just on profits, but also on the corporation’s broader purpose and role in the economic and societal ecosystem in order to build a sustainable and long-term value proposition.With this background and context, in the coming year, boards will be expected to:© Copyright 2020, The Trustees of Columbia University in the City of New York.Activist Short Selling Today: The Two Sides of the Coin.Wall Street CARES! Wachtell Lipton was founded on a handshake in 1965 as a small group of lawyers dedicated to providing advice and expertise at the highest levels. Malcolm Evans is an associate in Wachtell, Lipton, Rosen & Katz’s Corporate Department. He received his J.D. Instead, they must embrace the same purpose, culture, stakeholder, sustainability and ESG principles that are reflected in the statements of the Business Roundtable, the British Academy and the World Economic Forum and engage directly with companies to achieve the mutual understanding and support that is critical to a flourishing economy and a tranquil society.If investors are successful in working together with companies to effectuate stakeholder governance, the result will be to.As we look forward to 2020 and beyond, it is clear that the shareholder-value maximization model of corporate governance is politically and commercially unsustainable in view of the acute challenges confronting this generation. For example, instead of concentrating on the quarterly financial results and financial outlook of the company, a consideration of broader stakeholder interests may prompt a more nuanced, multifaceted assessment of value that includes assets and liabilities that are impactful but, in some ways, outside the four corners of the company’s balance sheet – like the caliber of employee skillsets in the face of rapidly evolving technology, or the suitability of the company’s production processes and facilities to stay ahead of the curve in anticipating customers’ needs.Among the critics of stakeholder governance, a common mantra has been that “accountability to all is accountability to none.”  Yet, the practical reality is that asset managers and institutional investors continue to be uniquely situated to exert tremendous influence and pressure on public corporations, and accordingly, the viability of stakeholder governance hinges on their support. Anthony received a B.A. He teaches a course in mergers and acquisitions at the Columbia Law School, and was a member of an international advisory group to the South African government on company law reform. William Savitt is a partner in the Litigation Department of Wachtell, Lipton, Rosen & Katz, where he specializes in mergers and acquisitions, proxy contests, corporate governance disputes, class actions involving allegations of breach of fiduciary duty, and regulatory enforcement actions relating to corporate transactions. Wong Natalie Wong is an associate in Wachtell, Lipton, Rosen & Katz’s Corporate Department. from Columbia Law School in 2014.

with Distinction from the University of Virginia, where he was a member of Phi Beta Kappa. In creating such value, a company serves not only its shareholders, but all its stakeholders – employees, customers, suppliers, local communities and society at large. from Columbia Law School, where he was a James Kent Scholar, a Harlan Fisk Stone Scholar, and a member of the Columbia Business Law Review. Clerkships Honorable Ruth Bader Ginsburg, Supreme Court of the United Before law school, Daniel was a Fulbright Scholar to Vietnam. Savitt graduated from Columbia Law School in 1997. This post comes to us from Wachtell Lipton Rosen & Katz. Trevor Norwitz is a partner in the corporate department at Wachtell, Lipton, Rosen & Katz, where he focuses primarily on mergers and acquisitions, corporate governance and securities law matters. Livshiz received a J.D. from Columbia. Wachtell, Lipton, Rosen & Katz LLP. His practice focuses on representing corporations and directors in complex corporate, commercial, and deal-related litigation, as well as advising on transactional, fiduciary, and governance matters.From 2007 to 2008, he clerked for the Honorable William B. Chandler III, then-Chancellor of the Delaware Court of Chancery.He earned his J.D. Columbia Law School, J.D. A very significant June decision by the Delaware Supreme Court interpreting the.To meet these expectations, major public companies should seek to:© Copyright 2020, The Trustees of Columbia University in the City of New York.Activist Short Selling Today: The Two Sides of the Coin.Wall Street CARES!

He completed a J.D. In hindsight, 2019 may come to be viewed as a watershed year in the evolution of corporate governance. Instead, the board has a fiduciary duty to promote the best interests of the corporation, and in fulfilling that duty, directors must exercise their business judgment in considering and reconciling the interests of various stakeholders and their impact on the business of the corporation. Malcolm received a B.S.

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