ASCS Changes Name

American Society of Corporate Secretaries Changes Name

To validate the increased responsibilities of its members, and to reflect the changing nature of the job of corporate secretary, the American Society of Corporate Secretaries changed its name to the Society of Corporate Secretaries and Governance Professionals, effective January 2005.

For more than a decade, issues related to corporate governance have dominated the Society’s work and a majority of its members report that their day-to-day jobs increasingly deal with governance and compliance issues. “This name change does not represent a shift in organizational philosophy but does account for the expansion of our members’ roles and focus,” says Kathleen L. Gibson, Chairman of the Society and Vice President, Secretary and Corporate Governance Officer at Prudential Financial in Newark, NJ.

The organization will continue to be known informally as the “Society” to regulatory bodies such as the Securities and Exchange Commission and the major stock exchanges.

“There’s been a growing need in most corporations for someone to handle the challenges of corporate governance, and usually that person is the Corporate Secretary,” says Gibson. “Since the passage of the Sarbanes-Oxley Act, most of the Society’s members have taken on even more work, dealing with the many compliance issues brought on by the legislation.”

“Our new name reflects the daily reality for most of our members,” says David W. Smith, President of the Society. “For almost sixty years our members have been promoting excellence in governance and this new identity clearly illustrates who we are and where our expertise lies.”

The Society of Corporate Secretaries and Governance Professionals, Inc. is a professional association founded in 1946 as the American Society of Corporate Secretaries. The name change reflects the corporate governance role that so many Society members — more than 3,800 corporate attorneys and governance and business executives representing more than 3,000 issuers — play in their organizations. More than 70% of Fortune 1000 companies are members of the Society.

“For more than 50 years, the Society has had a very important relationship with the New York Stock Exchange for many reasons, including representing over 3,000 public companies,” says Catherine R. Kinney, President of the Exchange. “Adding the term ‘governance professionals’ to its name reflects the increased and important role the Society and its members play in corporate affairs, governance and compliance.”

The Society exists to serve and assist members through the voluntary exchange of information and experience relating to the duties, problems, and practices of corporate secretaries, general counsels and governance officers.

The job responsibilities of Society members include working with corporate boards of directors and senior management regarding corporate governance, ethics and compliance; assuring issuer compliance with securities regulations and listing requirements; and coordinating activities with shareholders, including proxy voting for the annual meeting of shareholders and negotiation of shareholder proposals.

Society of Corporate Secretaries and Governance Professionals
521 Fifth Avenue New York NY 10175
212-681-2000 - Fax 212-681-2005

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