Paul Lachine

USA : une défaite pour le droit des actionnaires

CHICAGO –Il est rare d'entendre les capitalistes se lamenter ou même entamer une procédure judiciaire pour défendre le principe selon lequel les propriétaires légitimes ne doivent pas exercer leur droit de propriété. Cela ne se passe ni en Amérique latine ni dans une Suède qui serait communisante, mais aux USA !

Les capitalistes en question ne sont rien d'autres que le sommet de la pyramide du milieu des affaires américain : la Business Roundtable, un groupe puissant formé par les pdg des principales entreprises américaines qui défendent une politique en leur faveur. Leur combat est dirigé contre la réglementation adoptée par la SEC (le gendarme américain de la Bourse) en août dernier une réglementation qui a fait beaucoup de bruit. C'est la Shareholder Proxy Access Rule qui permet aux actionnaires de nommer plus facilement un administrateur afin de remédier à l'absence d'obligation de rendre compte de leurs actes de la part des conseils d'administration des entreprises.

Jusqu'à présent, ces conseils sont des entités qui s'auto-perpétuent. Pour être élu, un membre du conseil doit être désigné par le conseil en place dans lequel les cadres dirigeants exercent une influence considérable. De ce fait, les membres du conseil leur doivent directement ou indirectement leur position – et ne sont guère enclins à les contester, si ce n'est à risquer l'exclusion.

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