A New Corporate Governance Code in Israel
Speaker: Zohar Goshen - Professor of Law; Columbia Law School; Professor of Law, Ono Academic College; Legal Of Counsel, at Gross, Kleinhandler, Hodak, Halevi, LLP
The chairman of the Israeli Security Authority has appointed a committee to draft and suggest a new corporate governance code for the publicly traded corporations in Israel. A corporate governance code includes a set of rules relating to the internal management and governance of a corporation and to the control mechanisms over the board and the controlling shareholders. In the US the attention to corporations' corporate governance was brought into focus surrounding the collapse of Enron, Worldcom, and other major corporations. Mr. Goshen chaired the committee in Israel and will discuss the work and recommendations of the committee with a comparison to the legal regime in the US.
Mr. Goshen previously served as Professor of Law in the Faculty of Law at the Hebrew University of Jerusalem from 1991-2005. His visiting appointments include Yale Law School, 1999; NYU Law School, 2000; and Columbia Law School, 2001, 2002, 2003.
He served as Chairperson, Israeli Securities Authority's Corporate Governance Code Committee; Chairperson, Israeli Ministry of Trade's Committee for Reevaluating the Israeli Antitrust Law; and Chairperson of the Disciplinary Court of Securities Advisers and Portfolio Managers, 1997-2000.
Mr. Goshen also held the posts of Director (for public interests), Israel's Discount Bank, 1997-2002 (state-appointed); Director of the Israeli Securities Authority (Israel's SEC), 1995-1997. Prior, he was Law Clerk at the Supreme Court of Israel, to the Honorable Chief Justice Meir Shamgar, 1986-87.