ICGN is deeply saddened to hear of the passing of Robert “Bob” A.G. Monks, one of the most important mentors and supporters of our work over the course of our 30 year history.
It is a challenge to properly honour Bob, a visionary leader in the field of corporate governance and stewardship. His work, teaching and mentorship was an inspiration to many of us. Bob cared deeply about the importance of governance and stewardship and drove forward the development of best practices which are the foundations of ICGN’s Global Governance and Global Stewardship Principles.
He was one of the first individuals to encourage institutional investors to consider themselves as owners of companies and to expand beyond passive roles. To him, shareholder rights and the exercise of one’s fiduciary duty were paramount. Bob was a driving force in understanding how to harness the power of shareholders for a greater voice on the operation and impact of companies. As he wrote for ICGN a decade ago: “The only internal component of the corporate system with the power, motivation, and interest sufficient to act as an effective monitor is company ownership. Owners with skin in the game — that, my friends, is the magic formula!”
A graduate of Harvard College, Cambridge University, and Harvard Law School, Bob was referred to by The Economist and Fortune magazines as the leading shareholder activist and governance advocate in the world. He wrote widely, publishing more than a hundred papers in publications around the world. With Nell Minow, he published Power & Accountability (Harper Collins, 1991), Watching the Watchers (Blackwell, 1996), and three editions of the standard case book, Corporate Governance, the third edition is dated 2004. He also published The Emperor’s Nightingale, (Capstone, 1999), and The New Global Investors (Capstone, 2001).
As an acclaimed author, attorney, corporate director, and executive, Bob had a unique viewpoint on the roles of boards of directors, senior leadership, and investors. Bob ran for office as a candidate for a US Senate seat for the state of Maine and was appointed to serve in the administration of President Ronald Reagan, as founding Trustee of the Federal Employees’ Retirement System. Bob founded four businesses, Institutional Shareholder Services in 1985, the LENS Fund in 1990, The Corporate Library (later GMI Ratings and now part of MSCI) in 2000, and ValueEdge Advisors in 2014.
In 2024, the ICGN Board recognised Bob’s work with its most prestigious Award, the Lifetime Achievement Award, for his exceptional achievements in the field of corporate governance and stewardship over an extended period of time. In presenting the Award, ICGN’s Chair said “If you follow the threads of corporate governance best practices, you will find Bob Monks at the end of each one…Bob Monks has had a long career of innovative approaches to address obstacles that he felt stood in the way of improving corporate governance, requiring vision, courage, and fortitude.”
Like many of us, I have been inspired by Bob throughout my career, recognising him as a key part of advances in shareholder rights and a force that readily assisted anyone that needs support for this important work.
We send our condolences to Bob’s family and his wide network of friends and colleagues. He will be missed.
Jen Sisson
Chief Executive Officer
ICGN
