Vanguard’s McNabb Says Firm Is Not Passive on Governance
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Vanguard Group Inc., the largest U.S. mutual fund provider, has a message for the boards of directors of America’s biggest companies: It’s watching how they’re being run.
In a Feb. 27 letter sent to 500 of Vanguard’s largest holdings, Chief Executive Officer F. William McNabb laid out the principles his Valley Forge, Pennsylvanvia-based firm wants to see followed when it comes to corporate governance.