The return of the CEO as King?  Many reports now refer to Mr. Rogers’ board.  That’s what they said about J.P. Morgan more than a century ago.  Every board was “his” board and every director beholden to him. Has corporate governance progressed so little in the past two decades that this move back to the future produces barely a note of outrage in the business media? One thing is clear: they don’t want a strong voice that is capable of putting this development into its proper perspective. This does not bode well for the state of corporate governance in Canada. I’m hearng that from a lot of everyday investors, and even some smaller professional investors. Admittedly, we don’t have many like Bill Allen, founder of Allenvest back in the 1980s, around anymore.

The decision by the BC court also reveals how out of step that province is with modern boardroom practices and the responsibility of directors to serve the interests of all shareholders, and not just the most powerful.