Paul Holmes 02 Dec 2002 // 12:00AM GMT
As the world's most prominent and notorious shareholder activist, Robert Monks has relentlessly stalked ineffective management, waking it, shaking it and replacing it. The New Global Investors is his most powerful call yet for a more accountable corporate world.
In this book Monks asserts that large corporations dominate our world and shows how, more than any other factor, it is corporations who decide who is rich and who is poor, what kind of education we enjoy, the quality of our environment and the use of force in international affairs. He states that corporate energy is perceived as the single most effective tool for creating wealth and solving society's problems.
But there is a price - through control over their boards or directors, its compensation committees, "independent" consultants, the accounting authorities and even governments, CEOs have acquired the capacity to pay themselves as much as they wish. Monks asks: Is there now any effective limit to the power of corporate management?