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Article: Heidrick & Struggles: SEC Targets CEO Succession Plans - New Risks for Boards.
- Article from:
- Entertainment Close-up
- Article date:
- November 9, 2009
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"There is a whole new level of risk for corporate boards that could stem from the SEC's legal bulletin this week, ushering in a sea change in how directors will view CEO succession planning," says Stephen Miles, Vice Chairman of Heidrick & Struggles and Managing Partner of the firm's leadership advisory services.
In a release on November 2, the firm noted:
In a legal notice dated October 27th, the Securities and Exchange Commission's Division of Corp. Finance signaled increased concern about CEO succession planning among corporate boards. The bulletin, in effect, for the first time allows shareholders to request more disclosure from companies as to how ...