Corporate Governance Expert Jim Post on Romney, Responsibility, and Bain
Boston’s WCVB news channel recently sought insight from corporate governance expert James Post about the debate over Mitt Romney’s responsibility for the business decisions his company, Bain Capital, made three years after he claims he ceded control.
Post is Boston University’s John Smith Professor in Management in markets, public policy, and law, and he offered commentary about the Republican presidential candidate’s contention that he remained chief executive and chairman of Bain Capital but had no involvement in the firm’s activities, serving as leader in name only.
WCVB reports, “’It’s possible, but it’s not very likely that both are true,’ [Post says]. Corporate governance experts like Post say that if there was a COO making all the decisions, the SEC should be asking questions.”