Do Boards Need to Approve Their CEO’s Pledge to the BRT’s “Statement of Corporate Purpose”?

Does the board of directors need to approve a CEO’s decision to sign a pledge on behalf of the company – particularly when that pledge comes to altering the three-legged stool of corporate governance?

A WSJ op-ed by Lucian Bebchuk and Roberto Tallarita back in August 2020 created a stir. They are the Director and Associate Director of Harvard Law School’s Program on Corporate Governance.

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