Highest Honor For Corporate Governance Excellence Awarded To Jon Lukomnik, Investor Responsibility Research Center Executive Director
International Corporate Governance Network Honoree Acceptance Speech Challenges Corporate Governance Status Quo; Go Beyond Examining Individual Companies to Broader View of Financial Eco-System
NEW YORK, NY, June 27, 2013 - Jon Lukomnik, Executive Director of Investor Responsibility Research Center Institute (IRRCi), last night was announced the winner of the 2013 International Corporate Governance Network (ICGN) Award for Excellence in Corporate Governance. He received the honor at the ICGN annual general meeting in New York, New York. Ralph Whitworth, Founder and Principal of Relational Investors, was awarded the Lifetime Achiever Award, and a special posthumous award was given to the late Michael O’Sullivan, former President of the Australian Council of Superannuation Investors.
Widely known as a thought leader in corporate governance and corporate responsibility issues for 30 years, Lukomik’s acceptance speech challenged the status quo. “Are we, as shareowners, fit for purpose?” he asked the approximately 500 ICGN delegates. “For more than a quarter of a century, I and others have called for shareholder empowerment as the antidote to the excesses of capitalism. But do we today exhibit and facilitate those same excesses? Have we morphed, in some horrible Kafkesque way, from the solution to the problem; from the hope of responsible, engaged ownership to just another short-term market participant eager to get our share without concern about the long-term health of the economy and the world?”
Lukomnik called on shareowners and organizations like the ICGN to go beyond examining individual companies to look at the financial ecosystem itself. He said, “Unless we rebuke short-term greed and act as responsible owners, we will face increased and deserved criticism, a despoiled environment, a fractured society, and the reprobation of our children. We need to replace traders with investors, and investors with owners. We need to return to investing strategies that favor real long-term growth, that improve not just our portfolios but the real economy as well.”
About The Investor Responsibility Research Center Institute
The IRRC Institute is a not-for-profit organization that provides thought leadership at the intersection of corporate responsibility and the informational needs of investors. Headquartered in New York, NY, the IRRCi funds environmental, social, and corporate governance research, as well as research on capital market context that impacts how investors and companies make decisions. More information is available at www.irrcinstitute.org
About the International Corporate Governance Network
The London-based International Corporate Governance Network (ICGN) is the leading global voice of institutional investors. Its 600 members, from 50 countries, collectively represent approximately $18 trillion (US) in funds under management. More information is available at www.icgn.org.
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