In our latest program for the Integrated Reporting U.S. Community, we'll discuss the report released by The Conference Board Integrated Reporting Working Group on The Emergence of Integrated Reporting. The Group explains the rationale for this effort as follows:
How can companies show the value of their nonfinancial, intangible assets in a way their investors can easily understand?
Over the last 30 years, intangible assets have moved from 20 percent to over 80 percent of the value of public companies, yet decision making within companies has failed to keep pace. Financial reporting has made even less progress in addressing these changes. As they take ESG impacts ever more seriously, US investors are urging management and the board to adopt a reporting method that accounts for both tangible and intangible assets. “Integrated reporting” is such a method: it provides a framework that highlights all the ways a company creates and will continue to create value.
We'll hear from Bob Laux, IIRC U.S. Lead who is a member of the Working Group with our guest, John Wilcox, Chairman of Morrow Sodali. As always, we'll welcome feedback and discussion among the attendees.
Mr. Wilcox has served as the firm’s chairman since 2006. In addition to his role as chairman, Mr. Wilcox works directly with Morrow Sodali clients and provides strategic advice to executives and boards on a variety of issues ranging from shareholder activism to CEO succession planning, board evaluation and engagement with institutional investors.
During his career he has specialized in corporate governance, capital markets regulation, director education, cross-border standard-setting and investor communication. He has served on many boards and committees, including the Committee for Economic Development, NYSE Euronext, Nasdaq, The Conference Board Global Corporate Governance Center, the National Association of Corporate Directors, the Weinberg Corporate Governance Center; the American Bar Association Committee on Corporate Laws and wallstreetlawyer.com.
He is a member of the Aspen Institute Corporate Values Strategy Group; the International Corporate governance Network, where he served on the Board of Governors and chaired the Committee on Cross-Border Voting Practices; the Society for Corporate Governance; the National Investor Relations Institute.
He is the author of treatises on proxy voting, shareholder communications and board responsibility. His articles and white papers have appeared in The London Financial Times, The New York Times, The New York Law Journal, Directors & Boards, The American Lawyer, Insights, Pensions & Investments, The Corporate Governance Advisor, the Harvard Law School Forum on Corporate Governance and Financial Regulation, the Journal of Law and Contemporary Problems and other professional publications and blogs.
He has testified before Congress and regulatory agencies in markets around the world on matters relating to securities regulation and is on the faculty of a variety of director education programs. Mr. Wilcox received a B.A. from Harvard College, where he was a member of Phi Beta Kappa, an M.A. from the University of California, Berkeley, where he studied as a Woodrow Wilson Fellow, a J.D. from Harvard Law School and an LL.M degree from New York University Graduate School of Law. He is a member of the American and New York Bar Associations.
Bob Laux, IIRC U.S. Lead
Mary Adams, Smarter-Companies