A couple of years ago, a group of CEOs of major public companies
and institutional investors, including Jamie Dimon, Warren Buffett,
Larry Fink and Mary Barra, among others, developed a list of "commonsense corporate
governance principles," designed to generate a constructive
dialogue about corporate governance at public companies. As
discussed in a new open letter, the group believes that its
principles—along with other sets of principles developed by
the Investor Stewardship Group, the Business Roundtable and the
World Economic Forum—have become "part of a larger
dialogue about the responsibilities and need for constructive
engagement of those companies, their boards and their
investors." The group views the discussion as particularly
important in light of the "precipitous decline" in the
number of public companies, which the group attributes, in large
part, to the short-termism of public market participants. In that
regard, in its letter, the group endorsed the
