While earlier designs were shaped by the Laws of the Indies enacted by the Spanish monarchy, Benoit's plan reflected a more secular stance toward governance.
Pensions Investment Research Consultants (Pirc), an independent research and consultancy which provides services to institutional investors on corporate governance, echoes ShareSoc's stance on Intercede, and revealed last month that it planned to oppose the introduction of all new LTIPs, claiming that they were "not long-term" and did not incentivise.
Since 2004 disclosure of how they vote on proxy resolutions has forced fund managers to think much harder about their stance on governance-related issues.
The final oddity of the ECB's stance concerns democratic governance.
It is the military's -- and thus the current administration's -- lifeline, and a stronger commitment to conditioning the aid on democratic milestones and inclusive governance could moderate the new government's stance towards the opposition.
The governor, a Democrat who won election in November with strong union support, has carved out a national niche as a politician seeking an approach to state governance different from the confrontational stances taken by Republican counterparts like Chris Christie in New Jersey and Scott Walker in Wisconsin.
Minow, who takes such a strong stance on good corporate governance that she once advised shareholders to vote against her father, former Federal Communications Commission (FCC) chairman Newton Minow, said that if McDonald's were performing well the poor governance could perhaps be overlooked, but not with a company rapidly losing sales and customers.
Some of his policies, such as the North American Free Trade Agreement and welfare reform, have been attributed to a centrist Third Way philosophy of governance, while on other issues his stance was left-of-center.
Similarly, the Liberian president, Ellen Johnson-Sirleaf, has taken a welcome and completely different stance on corruption, criminality and governance from her much-criticised predecessor, Charles Taylor.Yet for all the alterations in personnel and the changes in rhetoric when a new party or a new faction of the old party takes power, many core elements of governance seem to remain the same.
