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Wednesday, 27 June 2007 |
An increasingly short-term focus by many business leaders is damaging the ability of public companies to sustain long-term performance. This trend is hampering growth in the American economy. That is the message of a new report, Built to Last: Focusing Corporations on Long-Term Performance, from CED. The report was released at an event on June 27, 2007 in New York City that featured a keynote speech by William Donaldson, former SEC Chairman. Mr. Donaldson, a CED Trustee is the Chair of CED's Subcommittee on Corporate Governance, which produced the report. A panel of corporate governance experts took part in the release event. The report offers recommendations for corporations to improve performance by focusing on long-term goals and Former Chairman Donaldson believes an end to "short-termism" is necessary. "Short-termism" is defined as an undue focus on meeting quarterly forecasts and a lesser emphasis on long-term planning.
Panelists
- Cono Fusco, Managing Partner of Strategic Relationships, Grant Thornton LLP, CED Trustee
- Pat Gross, Chairman, The Lovell Group, CED Trustee
- Jeff Diermeier, President and CEO, CFA Institute
- Moderator: Charles Kolb, President, CED
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