Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-28-Speech-3-270-000"
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"en.20120328.23.3-270-000"2
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"Mr President, Mr Barnier, what is the corporate governance framework for European companies all about? It is about learning the right lessons from the crisis and from the collapse of Lehman Brothers, on the basis of a corporate culture which is controlled by greed and short-term profit and which has caused and continues to cause huge amounts of damage. However, companies are not aliens. They are not little green men from Mars operating in a vacuum. On the contrary, they are part of our society and this is why we need fair, long-term rules on corporate governance.
The Bodu report is totally unsuitable for this purpose. It is of key importance, and I am quoting the Commission here, that European companies take the greatest possible responsibility for their employees, their shareholders and society as a whole. This concept also forms the basis for the alternative motion for a resolution tabled by the Group of the Progressive Alliance of Socialists and Democrats in the European Parliament and by the Group of the Greens/European Free Alliance. We need clear, binding rules on corporate governance and we also need sanctions. Self-regulation and the comply-or-explain principle have failed miserably. In the case of corporate governance, self-regulation is either a marketing ploy or simply a well-intentioned approach and good intentions very often fail to hit the mark.
An important factor in the lasting success of a company is the involvement not only of shareholders, but also of other stakeholders. I am thinking here of the inclusion of employees and their representatives on boards of directors and supervisory boards. They have an interest in the long-term success of the company and, after all, this is all about achieving long-term success. It is also important to ensure transparency by publishing all managers’ salaries and by extending the scope to all listed companies.
I would also like to touch on the very passionate discussion about quotas for women. The Commission and Ms Reding are promoting the concept of quotas in a very credible way. This House, the European Parliament, has often done the same thing. The subject of mandatory quotas for women is, of course, hugely important in the context of corporate governance rules."@en1
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