TheCorporateCounsel.net

The corporate governance field has lost one of its pioneers, with Bob Monks passing away last week at the age of 91. Bob devoted over four decades to promoting shareholder democracy and harnessing the voice of the shareholder – and truly changed the landscape for all of us.

In 1985, Bob founded Institutional Shareholder Services – which has grown into an influential proxy advisor and is one of the best-known corporate governance consulting firms that has ever existed. He went on to work with other prominent corporate governance leaders to launch and run other ventures, including The Corporate Library (now part of MSCI) and ValueEdge Advisors. Here’s an excerpt from the tribute shared by the ValueEdge team:

Bob always said that his understanding of the critical importance and opportunity for institutional shareholders came from a polluted river he saw when he was running for office in Maine. “I couldn’t think of anyone connected with the company emitting the effluent who wanted the result I saw.” Because he had been a law firm partner, a corporate CEO, a board member, and, as head of an investment company, the person who routinely voted proxies as management recommended, he understood every part of the process. And he devoted the rest of his professional life to “waking the sleeping giant,” and creating a better way for institutional shareholders to play the role that makes markets efficient.

Here’s the WaPo obituary and the ISS tribute. We send our sincere condolences to Bob’s family and his many friends.

– Liz Dunshee