Companies continue to make progress in improving corporate governance, ``but there is still plenty of room for improvement,'' according to Marco Consulting Group's list of 10 most significant corporate governance developments in 1996.
Most noteworthy, according to Marco, was that more than 50 companies dropped their pension plans for outside directors under pressure from shareholder groups.
Also, Florida Progress, a utility company, adopted all six recommendations on director compensation made by the National Association of Corporate Directors, following the lead of Campbell Soup.
Other notable developments include Compaq Computer and Bell Atlantic dropping their poison pills; the Student Loan Marketing Association restoring the right of shareholders to call for a special meeting; and seven companies repealing staggered board elections.
