In other words, corporate governance is something which captains of industry love to talk about, so long as nobody questions governance in their own companies! Mr. Tata talked about independent directors, and the need to protect the interests of other shareholders and not just the chairman. Mr. Murthy rightly argues whether exorbitant remunerations for CEOs can really be justified in a poor country like India. Take Mr. Murthy’s open letter released to the media last week, slamming the sharp pay hike awarded to COO Pravin Rao. The Economist said, in an article on the Tata-Mistry fight, that in India, “good corporate governance” was simply a euphemism for “not crooked”.

Source: The Hindu April 08, 2017 18:45 UTC